EX-3.48 66 s002407x1_ex3-48.htm EXHIBIT 3.48

Exhibit 3.48
 
(GRAPHIC)

ADDENDUM TO ARTICLES OF ORGANIZATION
OF
LGI HOMES –NEVADA, LLC
 
ARTICLE 9
PURPOSES AND POWERS
 
The Company is organized for any legal and lawful purpose for which a limited liability company may be organized in the State of Nevada, except banking and insurance. The Company shall have all the powers granted to a limited liability company under the laws of the State of Nevada.
 
ARTICLE 10
MANAGEMENT OF THE COMPANY
 
No individual Members of the Company, other than the Manager, shall have any individual rights or powers to take part in the management of the Company other than as expressly set forth in the Act or the Operating Agreement. No Member who is not also a Manager shall have the right to contract debts or incur liability on behalf of the Company.
 
ARTICLE 11
LIABILITIES OF MANAGERS AND MEMBERS
 
Members and Managers of the Company are not individually liable for any debts or liabilities of the Company.
 
ARTICLE 12
INDEMNIFICATION
 
The Company may indemnify any person or entity who is or was a Manager, Member, Officer, Director, Employee, or Agent of the Company to the fullest extent permitted or authorized by Nev. Rev. Stat. §§86.411 to 86.461, et. seq. The indemnification and advance of expenses authorized herein shall not be exclusive to any other rights to which any manager, officer, employee, or agent may be entitled under any bylaw, agreement or otherwise. The Articles of Organization shall not be interpreted to limit in any manner the indemnification or right to advancement for expenses of an individual who would otherwise be entitled thereto.