Sec. 10.50.350. Ownership of company property.
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Sec. 10.50.350. Ownership of company property.
(a)Property transferred to or otherwise acquired by a limited liability company is the property of the company and is not the property of the members individually.
(b)A limited liability company shall acquire, hold, and convey property, including real property, in the name of the company. If a limited liability company acquires an interest in property, the company holds the title to the interest and not the members individually.