Colorado § 7-80-104 Powers

Colorado Statutes

§ 7-80-104 — Powers

Colorado·Title 07 Corporations·Art. Limited Liability Companies

(1)Each limited liability company formed and existing under this article may:

(a)Sue and be sued, complain and defend, and participate in administrative or other proceedings, in its name;

(b)Purchase, take, receive, lease or otherwise acquire, own, hold, improve, use, and otherwise deal in and with real or personal property, or an interest in it, wherever situated;

(c)Sell, convey, assign, encumber, mortgage, pledge, lease, exchange, transfer, and otherwise dispose of all or any part of its property and assets;

(d)Lend money to and otherwise assist its members and employees;

(e)Purchase, take, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, and otherwise use and deal in and with, shares or o

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(1) Each limited liability company formed and existing
under this article may:

(a) Sue and be sued, complain and defend, and participate in administrative
or other proceedings, in its name;

(b) Purchase, take, receive, lease or otherwise acquire, own, hold, improve,
use, and otherwise deal in and with real or personal property, or an interest in it,
wherever situated;

(c) Sell, convey, assign, encumber, mortgage, pledge, lease, exchange,
transfer, and otherwise dispose of all or any part of its property and assets;

(d) Lend money to and otherwise assist its members and employees;

(e) Purchase, take, receive, subscribe for or otherwise acquire, own, hold,
vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of, and
otherwise use and deal in and with, shares or other interests in or obligations of any
other person;

(f) Make contracts and guarantees and incur liabilities, borrow money at
such rates of interest as the limited liability company may determine, issue its
notes, bonds, and other obligations, and secure any of its obligations by mortgage
or pledge of all or any part of its property, franchises, and income;

(g) Lend money for its proper purposes, invest and reinvest its funds, and
take and hold real property and personal property for the payment of funds so
loaned or invested;

(h) Conduct its business, carry on its operations, and have and exercise the
powers granted by this article in any jurisdiction;

(i) Have managers and other agents;

(j) Be a party to the operating agreement;

(k) Indemnify a member or manager or former member or manager of the
limited liability company as provided in section 7-80-407;

(l) (Deleted by amendment, L. 2003, p. 2264, � 176, effective July 1, 2004.)

(m) Have and exercise all powers necessary or convenient to effect any or all
of the purposes for which the limited liability company is formed;

(n) Be an agent, an associate, a fiduciary, a manager, a member, a partner, a
promoter, or a trustee of, or hold any similar position with, any entity, trust, or
estate.

Colorado § 7-80-104 (Powers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 90: Entire article added, p. 415, � 1, effective April 18. L. 94: (1)(d) amended, p. 710, � 3, effective July 1. L. 2003: IP(1), (1)(e), (1)(h), (1)(j), (1)(l), (1)(m), and (1)(n) amended, p. 2264, � 176, effective July 1, 2004. L. 2004: (1)(k) amended, p. 936, � 2, effective July 1. L. 2006: (1)(i), (1)(j), and (1)(n) amended, p. 854, � 19, effective July 1.