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<br />LexisNexis(TM) CD
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<br />7-80-/0/ d 5E&
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<br />7-80-104. Powers.
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<br />(1) Each limited liability company organized and existing under this article may:
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<br />(a) Sue and be sued, complain and defend, and participate in administrative OT other pToceedings, in
<br />its name;
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<br />(b) PUTchase, take, Teceive, lease or otherwise acquire, own, hold, improve, use, and otherwise deal
<br />in and with real OT personal property, or an interest in it, wherever situated;
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<br />( c) Sell, convey, assign, encumbeT, mortgage, pledge, lease, exchange, transfer, and otherwise
<br />dispose of all or any part of its property and assets;
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<br />(d) Lend money to and otherwise assist its members and employees;
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<br />(e) Purchase, take, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell,
<br />mortgage, lend, pledge, or otherwise dispose of, and otherwise use and deal in and with, shares or other
<br />interests in or obligations of other limited liability companies, domestic or foreign corporations,
<br />associations, general or limited partnerships, or individuals or direct or indirect obligations of the United
<br />States or of any government, state, territory, governmental district, or municipality or of any
<br />instrumentality of any of them;
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<br />(f) Make contracts and guarantees and incur liabilities, borrow money at such Tates of interest as the
<br />limited liability company may determine, issue its notes, bonds, and otheT obligations, and secure any of
<br />its obligations by mortgage or pledge of all or any part of its property, franchises, and income;
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<br />(g) Lend money for its pToper purposes, invest and reinvest its funds, and take and hold real property
<br />and personal property for the payment of funds so loaned or invested;
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<br />(h) Conduct its business, carry on its operations, and have and exercise the powers granted by this
<br />article in any state, territory, district, or possession of the United States or in any foreign country;
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<br />(i) Elect managers and appoint agents of the limited liability company and define their duties and fix
<br />their compensation;
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<br />(j) Make and alteT operating agreements, not inconsistent with its articles of organization or with the
<br />laws of this state, for the administration and regulation of the affaiTs of the limited liability company;
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<br />(k) Indemnify a member or manager or former member or manager of the limited liability company
<br />as provided in section 7-80-410;
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<br />(I) Cease its activities and surrender its certificate of organization;
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<br />(m) Have and exercise all powers necessary OT convenient to effect any or all of the purposes for
<br />which the limited liability company is organized;
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<br />(n) Become a member of a general partnership, limited partneTship, joint venture, OT similar
<br />association or any other limited liability company.
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<br />Source: L. 90: Entire article added, p. 415, S 1, effective April 18. L. 94: (l)(d) amended, p. 710, S
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<br />http://198.l87.128.12/colorado/lpext.dlVInfobase/3a86/490f/49IIl49l6/492c?f=templates...I1I0/2003
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