Guam § 15104 - Powers.

§ 15104. Powers.

Each limited liability company organized and existing under

this chapter may:

(a) Sue or be sued, or complain or defend, in its name.

(b) Purchase, take, receive, lease, or otherwise acquire,

own, hold, improve, or use, or otherwise deal in or with,

real or personal property, or an interest in real or personal

property, wherever situated.

(c) Sell, convey, mortgage, pledge, create a security

interest in, lease, exchange, or transfer, or otherwise dispose

of, all or any part of its property or assets.

(d) Purchase, take, receive, subscribe for, or otherwise

acquire, own, hold, vote, use, employ, sell, mortgage, lend,

or plead, or otherwise dispose of, or otherwise use or deal in

or with:

(1) Shares or other interests in or obligations of

other foreign or domestic limited liability companies,

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domestic or foreign corporations, associations, general

or limited partnerships, or individual; or

(2) Direct or indirect obligations of the United

States or any other government, state, territory,

government district, or municipality or of any

instrumentality thereof.

(e) Make contracts or guarantees or incur liabilities;

borrow money at such rates of interest as the limited

liability company may determine; issue its notes, bonds, or

other obligations; or secure any of its obligations by

mortgage or pledge of all or any part of its property,

franchises, and income.

(f) Lend money for any lawful purpose, invest or

reinvest its funds, or take and hold real or personal property

as security for the payment of funds so loaned or invested.

(g) Conduct its business, carry on its operations and

have offices, and exercise the powers granted by this

chapter with or without Guam.

(h) Elect or appoint managers and agents of the limited

liability company, define their duties, and fix their

compensation.

(i) Make and alter its regulations, not inconsistent with

its articles of organization or with the laws of Guam, for the

administration and regulation of the affairs of the company.

(j) Make donations to the public welfare or for

charitable, scientific, or educational purposes.

(k) Indemnify a member or manager or any other

person to the same extent as a corporation may indemnify

any of the directors, officers, employees, or agents of the

corporation against expenses actually and reasonably

incurred by him or it in connection with the defense of any

action, suit, or proceeding, whether civil or criminal, in

which he or it is made a party.

(l) Cease its activities and surrender its certificate of

organization.

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(m) Have and exercise all powers necessary or

convenient to affect any or all of the purposes for which the

company is organized.

(n) Transact any lawful business which the members or

the managers find to be in aid of governmental policy.

(o) Pay pensions and establish pension plans, profit-

sharing plans, and other incentive plans for any or all of its

managers and employees.

(p) Be a promoter, incorporator, general partner,

limited partner, member, associate, or manager of any

corporation, partnership, limited partnership, limited

liability company, joint venture, trust, or other enterprise.

(q) Have and exercise all powers necessary or

convenient to effect its purposes.

2021 NOTE: Reference to “territory” removed pursuant to 1 GCA § 420.