(a) A limited liability company may be organized under this Chapter for any lawful purpose, except that special statutes for the regulation and control of specific types of business shall control when in conflict herewith.

(b) Subject to any limitations contained in the articles of organization and to compliance with any other applicable laws, a limited liability company may engage in any lawful business activity, except the banking or insurance business.

SOURCE: Added by P.L. 23-125:2 (Sept. 9, 1996), and amended by
P.L. 33-239:3 (Jan. 27, 2017).

2017 NOTE: Subsection designations added pursuant to the authority of
1 Guam Code Ann. § 1606.