Current through Pa Acts 2024-53, 2024-56 through 2024-92
(a)General rule.--A limited liability company has the power to do all things necessary or convenient to carry on its activities and affairs.(b) Capacity to sue and be sued.--A limited liability company has the capacity to sue and be sued in its own name.(c)Certain specifically authorized debt terms.--A limited liability company shall be subject to section 1510 (relating to certain specifically authorized debt terms) to the same extent as if it were a business corporation.(d)Cross references.--See sections 8102 (relating to interchangeability of partnership, limited liability company and corporate forms of organization) and 8815(c)(8) (relating to contents of operating agreement).Added by P.L. TBD 2016 No. 170, § 29, eff. 2/19/2017.