Neural network (NN) approximations of model predictive control (MPC) are a versatile approach if the online solution of the underlying optimal control problem (OCP) is too demanding and if an exact computation of the explicit MPC law is intractable. The drawback of such approximations is that they typically do not preserve stability and performance guarantees of the original MPC. However, such guarantees can be recovered if the maximum error with respect to the optimal control law and the Lipschitz constant of that error are known. We show in this work how to compute both values exactly when the control law is approximated by a maxout NN. We build upon related results for ReLU NN approximations and derive mixed-integer (MI) linear constraints that allow a computation of the output and the local gain of a maxout NN by solving an MI feasibility problem. Furthermore, we show theoretically and experimentally that maxout NN exist for which the maximum error is zero.