The Maine multi-member limited liability company operating agreement is required by state law and will often prove to be an indispensable contract to the members that sign it. In Maine, an LLC must be managed by a human being; therefore, this contract will display the Maine LLC’s roster and structure for the benefit of the state and interested financial institutions.
This document will carry the additional benefit of protecting its members from the potential of future confusion by covering topics such as how profits and losses will be handled, who may enter contracts on behalf of the company, and members’ voting rights. Members should try to fully understand their assignment, benefits, and responsibilities as listed in this paperwork before committing a signature, even if further negotiation and research would be required.
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