Every state now recognizes limited liability companies.
In carrying out its business activities, an LLC has all of the powers of a natural person, subject to any limitations contained in its articles of organization and subject to compliance with applicable law. Sue, be sued, complain, or defend in its own name any type of action. Make contracts and guarantees, incur liabilities, act as surety, and borrow money. Own, transfer, and lease real and personal property. Issue, purchase, and redeem securities.