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18-2003.


18-2003.
   
   Each limited liability company may:
   
   1. Sue, be sued, complain and defend in all courts;
   
   2. Transact its business, carry on its operations and have and
   exercise the powers granted by this section in any state, territory,
   district or possession of the United States, and in any foreign
   country;
   
   3. Make contracts and guarantees, incur liabilities, and borrow money;
   
   4. Sell, convey, lease, exchange, transfer, mortgage, pledge, and
   otherwise dispose of all or any part of its property and assets;
   
   5. Acquire by purchase or in any other manner, take, receive, own,
   hold, improve, and otherwise deal with any interest in real or
   personal property, wherever located;
   
   6. Issue notes, bonds and other obligations and secure any of them by
   mortgage or deed of trust or security interest of any or all of its
   assets;
   
   7. Purchase, take, receive, subscribe for or otherwise acquire, own,
   hold, vote, use, employ, sell, mortgage, loan, pledge or otherwise
   dispose of and otherwise use and deal in and with stock or other
   interests in and obligations of domestic and foreign corporations,
   associations, general or limited partnerships, limited liability
   companies, business trusts, and individuals;
   
   8. Invest its surplus funds, lend money from time to time in any
   manner which may be appropriate to enable it to carry on the
   operations or fulfill the purposes set forth in its articles of
   organization, and take and hold real property and personal property as
   security for the payment of funds so loaned or invested;
   
   9. Elect or appoint agents and define their duties and fix their
   compensation;
   
   10. Be a promoter, stockholder, partner, member, associate, or agent
   of any corporation, partnership, limited liability company, joint
   venture, trust or other enterprise;
   
   11. Indemnify and hold harmless any member, agent, or employee from
   and against any and all claims and demands whatsoever, except in the
   case of action or failure to act by the member, agent, or employee
   which constitutes willful misconduct or recklessness, and subject to
   the standards and restrictions, if any, set forth in the articles of
   organization or operating agreement;
   
   12. Make and alter operating agreements, not inconsistent with its
   articles of organization or with the laws of this state, for the
   administration and regulation of the affairs of the limited liability
   company;
   
   13. Cease its activities and dissolve; and
   
   14. Do every other act not inconsistent with law which is appropriate
   to promote and attain the purposes set forth in its articles of
   organization.
   

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