{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-2003","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-2003","heading":"Powers and authority","body":"Each limited liability company may:\n\n1. Sue, be sued, complain and defend in all courts;\n\n2. Transact its business, carry on its operations and have and\n\nexercise the powers granted by this section in any state, territory,\n\ndistrict or possession of the United States, and in any foreign\n\ncountry;\n\n3. Make contracts and guarantees, incur liabilities, and borrow\n\nmoney;\n\n4. Sell, convey, lease, exchange, transfer, mortgage, pledge,\n\nand otherwise dispose of all or any part of its property and assets;\n\n5. Acquire by purchase or in any other manner, take, receive,\n\nown, hold, improve, and otherwise deal with any interest in real or\n\npersonal property, wherever located;\n\n6. Issue notes, bonds and other obligations and secure any of\n\nthem by mortgage or deed of trust or security interest of any or all\n\nof its assets;\n\n7. Purchase, take, receive, subscribe for or otherwise acquire,\n\nown, hold, vote, use, employ, sell, mortgage, loan, pledge or\n\notherwise dispose of and otherwise use and deal in and with stock or\n\nother interests in and obligations of domestic and foreign\n\ncorporations, associations, general or limited partnerships, limited\n\nliability companies, business trusts, and individuals;\n\n8. Invest its surplus funds, lend money from time to time in\n\nany manner which may be appropriate to enable it to carry on the\n\noperations or fulfill the purposes set forth in its articles of\n\norganization, and take and hold real property and personal property\n\nas security for the payment of funds so loaned or invested;\n\n9. Elect or appoint agents and define their duties and fix\n\ntheir compensation;\n\n10. Be a promoter, stockholder, partner, member, associate, or\n\nagent of any corporation, partnership, limited liability company,\n\njoint venture, trust or other enterprise;\n\n11. Indemnify and hold harmless any member, agent, or employee\n\nfrom and against any and all claims and demands whatsoever, except\n\nin the case of action or failure to act by the member, agent, or\n\nemployee which constitutes willful misconduct or recklessness, and\n\nsubject to the standards and restrictions, if any, set forth in the\n\narticles of organization or operating agreement;\n\n12. Make and alter operating agreements, not inconsistent with\n\nits articles of organization or with the laws of this state, for the\n\nadministration and regulation of the affairs of the limited\n\nliability company;\n\n13. Cease its activities and dissolve; and\n\n14. Do every other act not inconsistent with law which is\n\nappropriate to promote and attain the purposes set forth in its\n\narticles of organization.","path":["OK Code","Title 18"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os18.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"4900797dff12064384976cb2cd25e21827fe1db42059dd8059e2a2b9d60e57ac","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-2002","next":"us-ok/okla.-stat.-tit.-18-18-2004"},"notice":"GroundRules: Original legal text. Not legal advice."}