Ch. 659

1997 LAWS OF MARYLAND

COMPANY AND THE SERVICES ARE PROVIDED OR WILL BE PROVIDED WITHIN 120
DAYS BEFORE OR AFTER THE DATE THE CONVEYANCE IS MADE OR THE
OBLIGATION IS INCURRED; OR

(2) A PERSON NOT A MEMBER, WITHOUT FAIR CONSIDERATION TO THE
LIMITED LIABILITY COMPANY AS DISTINGUISHED FROM CONSIDERATION TO THE
INDIVIDUAL MEMBERS.

Article - Corporations and Associations

4A-202.

(a) [Two or more persons] ANY PERSON may form a limited liability company by
causing articles of organization to be executed and filed for record with the Department.

4A-203.

[A] UNLESS OTHERWISE PROVIDED BY LAW OR ITS ARTICLES OF
ORGANIZATION, A limited liability company [may] HAS THE GENERAL POWERS,
WHETHER OR NOT SET FORTH IN ITS ARTICLES OF ORGANIZATION, TO:

(1) HAVE PERPETUAL EXISTENCE, ALTHOUGH EXISTENCE MAY BE
LIMITED TO A SPECIFIED PERIOD OF TIME IF THE LIMITATION IS SET FORTH IN ITS
ARTICLES OF ORGANIZATION;

[(1)](2) Sue, be sued, complain, and defend in all courts;

[(2)] (3) Transact its business, carry on its operations, and have and
exercise the powers granted by this article in any state and in any foreign country;

[(3)](4) Make contracts and guarantees, incur liabilities, and borrow

money;

[(4)] (5) Sell, lease, exchange, transfer, convey, mortgage, pledge, and
otherwise dispose of any of its assets;

[(5)] (6) Acquire by purchase or in any other manner, take, receive, own,
hold, improve, and otherwise deal with any interest in real or personal property, wherever

located;

[(6)](7) Issue notes, bonds, and other obligations and secure any of them
by mortgage or deed of trust or security interest of any or all of its assets;

[(7)] (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;

[(8)] (9) Invest its surplus funds, lend money in any manner which may be
appropriate to enable it to carry on the operations or fulfill the purposes set forth in its
articles of organization, and take and hold real property and personal property as security
for the payment of funds so loaned or invested;

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