§ 2-109. Nature of business.
A limited liability company may be organized under this Act for any lawful purpose. Unless otherwise provided in its articles of operation, an LLC organized and existing under this Act has the same powers as an individual to do all things necessary and convenient to carry out its business, including but not limited to all of the following:
A. Sue and be sued, complain, and defend in its name; provided, that if an LLC is wholly owned by the Nation, or wholly owned by an Osage Nation LLC or other entity which itself is wholly owned by the Nation, it shall be entitled to and shall enjoy the Nation’s sovereign immunity from suit unless the articles of organization otherwise provide.
B. Purchase, take, receive, lease, or otherwise acquire and own, hold, improve, use, and otherwise deal in or with real, or personal property or any legal or equitable interest in real or personal property, wherever situated.
C. Sell, convey, mortgage, pledge, create a security interest in, lease, exchange, or otherwise dispose of all or any part of its property.
D. Lend money, property, and services to, and otherwise assist, its members and managers, if any.
E. Purchase, take, receive, subscribe for, or otherwise acquire and own, hold, vote, use, employ, sell, mortgage, lend, pledge, or otherwise dispose of and deal in and with shares or other interests in, or obligations of, any other enterprise or entity.
F. Make contracts and guarantees; incur liabilities; borrow money; issue notes, bonds, and other obligations; and secure any of its obligations by mortgage or pledge of all or part of its property, franchises, and income.
G. Lend money, invest and reinvest its funds, and receive and hold real or personal property as security for repayment.
H. Conduct its business, locate offices, and exercise the powers granted by this Act inside or outside of the Nation’s Reservation.
I. Be a promoter, incorporator, partner, member, associate, or manager of any enterprise or entity.
J. Elect or appoint managers, agents, and employees, define their duties, and fix their compensation.
K. Pay pensions and establish pension plans, pension trusts, profit-sharing plans, and benefit or incentive plans for any or all of its current or former members, managers, employees, and agents.
L. Make donations to and otherwise devote its resources for the public welfare or for charitable, scientific, educational, humanitarian, philanthropic, or religious purposes.
M. Indemnify a member, manager, employee, officer or agent, or any other person.
N. Provide benefits or payments to members, managers, employees, and agents of the LLC, and to their estates, families, dependents or beneficiaries in recognition of the past services of the members, managers, employees, and agents of the LLC.
O. Make payments or donations, or do any other act not prohibited by law, that furthers the business of the LLC.
P. Transact any lawful business that the members or the managers find to be appropriate to promote and further the business and affairs of the limited liability company. ONCA 08-02, eff. June 13, 2008.