Maine Revised Statutes Title 31 Sec. 6 – Prohibition of certain names
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Terms Used In Maine Revised Statutes Title 31 Sec. 6
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
No person or persons, partnership or other entity engaged in any business, except a corporation, may adopt a name for such business that contains the words “corporation,” “incorporated” or “limited,” or any abbreviation of any such words. A limited partnership may use the term “limited partnership” as part of its name, a limited liability company may use the term “limited liability company” as part of its name and a limited liability partnership may use the term “limited liability partnership” as part of its name. [PL 1995, c. 633, Pt. C, §10 (AMD).]
SECTION HISTORY
PL 1967, c. 157 (NEW). PL 1981, c. 698, §153 (AMD). PL 1995, c. 458, §11 (AMD). PL 1995, c. 633, §C10 (AMD).