29-609. Purpose; insurance business


A. Except as provided in subsection B of this section, a limited liability company
may be organized under this chapter and may conduct or promote business and other
activities for any lawful purpose, except banking.


B. A limited liability company shall not be an insurer as defined in section 20-104
unless as a title insurance agent as defined in section 20-1562 or as a pure captive
insurer as defined in section 20-1098 who is expressly authorized by the director of the
department of insurance pursuant to title 20. For the purposes of title insurance
transactions or pure captive insurance business, the members of the limited liability
company are individually responsible, equally and ratably, and not one for another, for
all contracts, debts and engagements of the limited liability company, to the extent of
the amount of each member's initial investment in the limited liability company.