Wednesday, February 4, 2015

Create A Maine Limited Liability Company

Creating a Maine limited liability company is accomplished by filing formation paperwork with the Maine secretary of state's bureau of corporations, elections and commissions. A Maine LLC offers owners of the business a combination of limited liability protection and operational flexibility. Once the Maine secretary of state approves the company's formation paperwork, the Maine LLC will be treated as a distinct legal entity that has a separate existence from the members and managers of the business.


Instructions


1. Check with the Maine secretary of state to ensure the name of your Maine LLC is available for use. Use the Maine secretary of state website to make sure that other businesses in the state are not using a business name that is too similar to yours. The name of the Maine LLC must be distinguishable from other business entities that are registered with the Maine secretary of state. Add the phrase "limited liability company," or the appropriate abbreviation, to the legal business name of the Maine LLC.


2. Print fill-in-the-blank articles of organization from the Maine secretary of state website, or call the Maine secretary of state at 207-624-7736 to have articles of organization sent by mail. Visit the Maine secretary of state's bureau of corporation, elections and commissions in person to obtain articles of organization. The bureau of corporation, elections and commissions is located in the Burton Cross Bldg., 111 Sewall St., 4th Floor, Augusta, Maine 04333-0101.


3. Fill out the Maine articles of organization. State the purpose for creating the business, and indicate the legal name and principal address of the company. Supply the name and address of a registered agent that will accept legal documents served against the Maine LLC. List the name and address of each LLC organizer. This is the person or business responsible for filing the articles of organization with the Maine secretary of state. Include the signature of the company's registered agent and the signature of each LLC organizer. Provide an exact date when the business will dissolve, or state that the Maine LLC will have an unlimited existence.


4. File the completed articles of organization with the Maine secretary of state. Mail the Maine articles of organization to 101 State House Station, Augusta, Maine 04333-0101 or hand deliver the articles of organization in person to the Maine secretary of state. As of 2010, prospective LLCs in Maine are required to pay a $175 filing fee.


5. Compose an operating agreement to provide rules and procedures for running the business. The state of Maine does not provide specific criteria in terms of creating an operating agreement, which allows the company to create an operating agreement tailored to its specific needs. Include provisions such as the manner for adding new members, describe how the company will divide its profits and losses between members of the business, and state the procedures for buying out a departing member. Retain the operating agreement at the Maine LLC's main business address.