Limited Liability Company Operating Agreement - Limited Liability Company (Page 6 of 7) in pdf

Limited Liability Company Operating Agreement - Limited Liability Company Page 6

ARTICLE VII

Transfers

7.1

ASSIGNMENT. If at any time a Member proposes to sell, assign or otherwise dispose of

all or any part of his interest in the Company, such Member shall first make a written

offer to sell such interest to the other Members at a price determined by mutual

agreement. If such other Members decline or fail to elect such interest within thirty (30)

days, and if the sale or assignment is made and the Members fail to approve this sale or

assignment unanimously then, pursuant to the Montana Limited Liability Company Act,

the purchaser or assignee shall have no right to participate in the management of the

business and affairs of the Company. The purchaser or assignee shall only be entitled to

receive the share of the profits or other compensation by way of income and the return

of contributions to which that Member would otherwise be entitled.

ARTICLE VIII

Company Property

8.1

OWNERSHIP. Pursuant to the Montana Limited Liability Company Act, Chapter 8, Title

35, property transferred to or otherwise acquired by a limited liability company

becomes property of the company. Property may be acquired, held, and conveyed in

the name of this Limited Liability Company.

8.2

USE AND MANAGEMENT. Consistent with the purpose of this Company, Members may

utilize and manage property in any lawful way deemed appropriate for company affairs.

Operating Agreement - 6

Limited Liability Company Operating Agreement - Limited Liability Company Page 6