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, COL6/24/2021 CH. 15 LIMITED LIABILITY COMPANIES 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. COL6/24/2021 CH. 15 LIMITED LIABILITY COMPANIES

(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, profitsharing 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.