§ 4A-303. Limited liability company property

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(a) Acquisition. -- Real and personal property owned or purchased by a limited liability company may be acquired in the name of the limited liability company.

(b) Binding effect of documentation. -- An instrument or document for the acquisition, mortgage, or disposition of property of the limited liability company shall be valid and binding upon the limited liability company if executed by 1 or more authorized persons.

HISTORY: 1992, ch. 536.

                    
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