Limited Liability Company Operating Agreement For A Limited Liability Company Page 5
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12and
s ecurities
o f
t he
L LC.
T he
T reasurer
s hall
p reside
a t
t he
meeting
with
the
Member
when
the
President
is
absent.
The
Treasurer
must
receive
and
give
receipts
for
moneys
due
and
payable
to
the
LLC
from
any
money
source
whatsoever,
a nd
d eposit
a ll
s uch
m oneys
i n
t he
n ame
o f
t he
LLC
in
any
such
money
institution,
which
shall
be
selected
by
the
Member
of
the
LLC.
The
Treasurer
shall
perform
all
other
duties
that
may
be
assigned
to
the
office
of
treasurer
by
t he
P resident
o r
b y
t he
M ember
o f
t he
L LC.
(f)
SECRETARY.
The
Secretary
shall
keep
a
time
log
of
the
Member’s
meetings
in
a
file
provided
for
that
purpose
and
also
see
that
all
notices
are
duly
given
in
accordance
with
the
p rovisions
o f
t his
A greement
o r
a s
r equired
b y
l aw.
T he
Secretary
shall
have
custody
of
the
LLC
records,
addresses
of
Member,
Member’s
resolutions,
and
other
documents
to
the
LLC
as
true
and
correct.
The
Secretary
shall
preside
at
the
m eetings
o f
t he
M ember
i n
t he
a bsence
o f
t he
P resident
and
Treasurer
and
also
perform
all
other
duties
that
may
be
a ssigned
t o
t he
o ffice
o f
s ecretary
b y
t he
P resident
o r
b y
the
M ember
o f
t he
L LC.
(g)
VACANCIES.
A
vacancy
is
any
office
because
of
death,
resignation,
r emoval,
a nd
d isqualification
o r
o therwise
m ay
be
filled
by
the
Member
for
the
unexpired
portion
of
the
term.
XIII.
MEMBER
ONLY
POWERS.
Notwithstanding
any
other
provision
of
this
A greement,
t he
M ember
m ay:
( a)
s ell
o r
e ncumber
a ny
r eal
e state
owned
by
the
LLC,
or
(b)
incur
debt,
expend
funds,
or
otherwise
obligate
the
LLC
if
the
debt,
expenditure,
or
other
obligation
the
Member
w ishes.
XIV.
INTEREST
OF
MEMBER.
The
Member
shall
own
a
full
One
Hundred
Percentage
(100%)
interest
in
the
LLC.
The
percentage
interest
shall
control
the
Member’s
share
of
the
profit,
losses,
and
distributions
of
the
L LC.
XV.
CONTRIBUTIONS.
The
initial
contribution
and
initial
percentage
interest
o f
t he
M ember
a re
a s
s et
o ut
i n
t his
A greement.
XVI.
ADDITIONAL
CONTRIBUTIONS.
In
the
case
the
Member
is
called
upon
b y
t he
L LC
t o
m ake
a dditional
c ash
c ontributions,
t he
a dditional
cash
c ontribution
s hall
b e
b ased
o n
t he
s ole
M ember.
XVII.
PERCENTAGE
INTEREST/RECORD
OF
CONTRIBUTIONS.
This
Agreement,
any
amendment(s)
to
this
Agreement,
and
all
Resolutions
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