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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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