Section 1505 - Capacities and powers1.To sue, be sued. A limited liability company has the capacity to sue and be sued in its own name. [2009, c. 629, Pt. A, §2(NEW); 2009, c. 629, Pt. A, §3(AFF).]
2.To hold property. A limited liability company has the capacity to hold property in its own name. [2009, c. 629, Pt. A, §2(NEW); 2009, c. 629, Pt. A, §3(AFF).]
3.Power to carry out activities. A limited liability company has the power to do all things necessary or convenient to carry on its activities. [2009, c. 629, Pt. A, §2(NEW); 2009, c. 629, Pt. A, §3(AFF).]
2009, c. 629, Pt. A, §2 (NEW) . 2009, c. 629, Pt. A, §3 (AFF) .