LIMITED LIABILITY COMPANIES ACT 2008
PART 2 FORMATION
11
Formation
(1)
A trustee company acting on behalf of one or more persons (and if natural persons 18 years of age or older) who do not reside in the Cook Islands may organise a limited liability company by executing and delivering articles of organisation to the Registrar as specified in section 13. The person or persons on whose behalf the trustee company is acting need not be members of the limited liability company after formation has occurred.
(2)
Despite subsection (1), a trustee company may be a member of a limited liability company including in a trustee capacity or as agent.
(3)
A limited liability company is a legal entity with separate rights and liabilities distinct from its members and managers. Any estate or interest in property may be acquired, held or conveyed in the name of the limited liability company and title to any estate or interest so acquired vests in the limited liability company.