§ 4A-203. Authority
West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2012
Effective: October 1, 2012
MD Code, Corporations and Associations, § 4A-203
§ 4A-203. Authority
Unless otherwise provided by law or unless otherwise agreed, a limited liability company has the general powers, whether or not set forth in its articles of organization or operating agreement, to:
(8) Purchase, take, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, loan, pledge, or otherwise dispose of and otherwise use and deal in and with stock or other interests in and obligations of other corporations, associations, general or limited partnerships, limited liability companies, foreign limited liability companies, business trusts, and individuals;
(14) Indemnify and hold harmless any member, agent, or employee from and against any and all claims and demands, except in the case of action or failure to act by the member, agent, or employee which constitutes willful misconduct or recklessness, and subject to the standards and restrictions, if any, set forth in the articles of organization or operating agreement;
Credits
Added by Acts 1992, c. 536. Amended by Acts 1993, c. 459, §§ 1, 2; Acts 1997, c. 659, § 1, eff. Oct. 1, 1997; Acts 2012, c. 599, § 1, eff. Oct. 1, 2012; Acts 2012, c. 600, § 1, eff. Oct. 1, 2012.
MD Code, Corporations and Associations, § 4A-203, MD CORP & ASSNS § 4A-203
Current through legislation effective through June 1, 2022, from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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