Article 15 - Corporate Capacity
LLC has separate legal personality from its Members whose liability shall be limited to paying to the LLC the amount, if any, unpaid on the Shares held by them.
LLC has the capacity, rights and privileges of a natural person and, without limitation, may enter into contracts, sue and be sued and own assets of all types.
(3) In favour of a person who in good faith is a party to any transaction or other act to which the
LLC is party, the power of the directors of an LLC to bind the LLC, or authorise others to do so, shall be deemed free of any limitation under the LLC's articles of association.
(4) A contract may be made, varied or discharged on behalf of an
LLC, by any person acting under its authority, express or implied.
Document is executed by an LLC if signed by two directors, or one director and the secretary of an LLC, and expressed (in whatever form of words) to be executed by the LLC.
|Amended (as from 5th April 2015).|