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The Law Office of Eric J. Proos, P.C.

POWERS OF A LIMITED LIABILITY COMPANY-LLC

With an Experienced Los Angeles Business Attorney

A Limited Liability Company, LLC, is a separate and distinct entity from the individual owners. The Limited Liability Company, LLC, is governed by the California Corporations Codes, and more specifically the California Revised Uniform Limited Liability Company Act. Within the California Revised Uniform Limited Liability Company Act the powers of an Limited Liability Company, LLC, are detailed.

The Law Office of Eric J. Proos, P.C., has extensive experience forming, advising, and representing Limited Liability Companies, LLC. Los Angeles Business Attorney, Eric J. Proos, is experienced with the California Revised Uniform Limited Liability Company Act and is ready to help your Limited Liability Company, LLC.

In order to properly operate your Limited Liability Company, LLC, you as the owner need to understand the powers delegated to the LLC by the California Revised Uniform Limited Liability Company Act. Call The Law Office of Eric J. Proos, P.C., today at (213) 784-3640 to discuss your LLC and the powers it possesses.

Powers Delegated to a Limited Liability Company, LLC

According to Section 17701.05 of the California Revised Uniform Limited Liability Company Act, a Limited Liability Company, LLC, has the following powers:

  1. Transact business, carry on its operations, and qualify to do business;
  2. Sue, be sued, complain, and defend any action, arbitration, or proceeding, whether judicial, administrative, or otherwise, in its own name;
  3. Adopt, use, and at will alter company seal;
  4. Make contracts and guarantees, incur liabilities, act as surety, or borrow money;
  5. Sell, lease, exchange, transfer, convey, mortgage, pledge, or otherwise dispose of all or any part of its property and assets;
  6. Lend money to and otherwise assist its members and employees;
  7. Be a promoter, stockholder, partner, member, manager, associate, or agent of any person;
  8. Indemnify or hold harmless any person;
  9. Purchase and maintain insurance;
  10. Issue, purchase, redeem, receive, take, or otherwise acquire, own, hold, sell, lend, exchange, transfer, or otherwise dispose of, pledge, use, and otherwise deal in and with its own bonds, debentures, and other securities.

There are over 15 specifically delegated powers of a Limited Liability Company, LLC. As an owner of a Limited Liability Company, LLC, you should be informed and knowledgeable about the powers. Retaining experienced counsel to advise your Limited Liability Company, LLC, is vital to its legal operation, and knowing the powers a Limited Liability Company, LLC, possesses,is the first step.

The Law Office of Eric J. Proos, P.C., is ready to speak with you about your LLC. Call or email us today to schedule your free 30-minute consultation.