8921 - Powers and capacity. - Pennsylvania Statutes

SUBCHAPTER C POWERS, DUTIES AND SAFEGUARDS Sec. 8921. Powers and capacity. 8922. Liability of members. 8923. Property. 8924. Limited transferability of membership interest. 8925. Taxation of limited liability companies. 8926. Certain specifically authorized debt terms. § 8921. Powers and capacity. (a) General rule.--Except as provided in section 103 (relating to subordination of title to regulatory laws), a limited liability company shall have the legal capacity of natural persons to act. (b) Business that may be carried on.--Subject to the limitations and restrictions imposed by statute or contained in its certificate of organization, every limited liability company may carry on any business that a partnership without limited partners may carry on and shall have the power to perform any act that such a partnership may perform. (c) Cross reference.--See section 8102 (relating to interchangeability of partnership, limited liability company and corporate forms of organization).