United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 31, § 1503: Knowledge; notice, 2009

This section defines when a person knows or has notice of a fact, how a person gives notice, when nonmembers are deemed to have notice of certain LLC events, and that a member’s knowledge is not automatically the LLC’s…

knowledgelimited liability companynoticenotification

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“This section defines when a person knows or has notice of a fact, how a person gives notice, when nonmembers are deemed to have notice of certain LLC events, and that a member’s knowledge is not automatically the LLC’s knowledge just because of membership.”

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    Enacted 2009 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Knowledge; notice

This section defines when a person knows or has notice of a fact, how a person gives notice, when nonmembers are deemed to have notice of certain LLC events, and that a member’s knowledge is not automatically the LLC’s knowledge just because of membership.

Section 1503

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Source record from legislature.maine.gov · Enacted 2009 · Source version 1 Oct 2025

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§ 1503Knowledge; noticeProvision

This section defines when a person knows or has notice of a fact, how a person gives notice, when nonmembers are deemed to have notice of certain LLC events, and that a member’s knowledge is not automatically the LLC’s knowledge just because of membership.

1. Knows. A person knows a fact when the person: A. Has actual knowledge of it; or [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] B. Is deemed to know it under law other than this chapter. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2. Notice. A person has notice of a fact when the person: A. Knows of it; [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] B. Receives notification of it; [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] C. Has reason to know the fact from all of the facts known to the person at the time in question; or [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] D. Is deemed to have notice of the fact under subsection 4. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 3. Notifies. A person notifies another of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not the other person knows the fact. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 4. Nonmember; notice. A person that is not a member is deemed to have notice of a limited liability company's: A. Matters included in the certificate of formation under section 1531, subsection 1, paragraph A, upon filing; [PL 2011, c. 113, Pt. A, §5 (AMD).] B. Termination, 90 days after a certificate of cancellation under section 1533 becomes effective; [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] C. Merger or conversion, 90 days after a statement of merger or statement of conversion under subchapter 12 becomes effective; and [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] D. Revival, 90 days after a certificate of revival under section 1604 becomes effective. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] [PL 2011, c. 113, Pt. A, §5 (AMD).] 5. Member; knowledge, notice or receipt of notification. A member's knowledge, notice or receipt of a notification of a fact relating to the limited liability company is not knowledge, notice or receipt of a notification of a fact by the limited liability company solely by reason of the member's capacity as a member. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
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  • 1 Oct 2025 · currentEnglish

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