Once upon a time, long, long ago... version 5 or thereabouts, if memory serves there was a "model library" (a whole bunch of max scenes with a single object per scene, if you can call that a "library"). Only the one sighting - not seen since, I'm afraid.
You can easily create your own "library" by placing loads of models into a single scene from which you can merege them as needed. Or export them to a common format - with current versions of Max probably FBX would be the best choice.
There are some things built in like trees and plants (you can buy more I believe, if you need them) but not much else.
Max 2016 (SP1/EXT1)
Win7Pro x64 (SP1). i5-3570K @ 4.4GHz, 8Gb Ram, DX11.
nVidia GTX760 (2GB) (Driver 430.86).