Guam § 15107 - Articles of Organization.

§ 15107. Articles of Organization.

(a) The Articles of Organization of a limited liability

company shall set forth:

(1) The name of the limited liability company.

(2) Unless its articles of organization provide

otherwise, the limited liability company shall have

perpetual duration and succession in its name for the period

of its duration.

(3) The purpose for which the limited liability

company is organized.

(4) The address of its place of business in Guam and

the name and address of its initial registered agent in Guam.

(5) The total amount of cash and a description and

agreed value of property other than cash contributed.

(6) The total additional contributions, if any, agreed to

be made by all members and the times at which, or the

events upon the happening of which, they shall be made.

(7) The right, if given, of the members to admit

additional members and the terms and conditions of the

admissions.

(8) The right, if given, of the remaining members of

the limited liability company to continue the business on the

death, retirement, resignation, expulsion, bankruptcy, or

dissolution of a member or the occurrence of any other

event which terminates the continued membership of a

member in the limited liability company.

(9)(A) If the limited liability company is to be

managed by a manager or managers, a statement

that the company is to be managed by a manager or

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managers and the names and addresses of such

managers who are to serve as managers until the

first annual meeting of members or until their

successors are elected and qualify.

(B) If the management of a limited liability

company is reserved to the members, the names

and addresses of the members.

(10) Any other provisions, not inconsistent with law,

which the members elect to set out in the articles of

organization for the regulation of the internal affairs of the

limited liability company, including any other provisions

which under this Chapter are required or permitted to be set

out in the regulations of the limited liability company.

(b) It is not necessary to set out in the articles of

organization any of the powers enumerated in this Chapter.