StartupStarterPackage/CommonBoilerplate/MemberRemoval.md
Charles N Wyble 07bd9a07b8 Squashed 'vendor/git.knownelement.com/RWSCP/LLCOperatingAgreement-Markdown/' content from commit e94b20a
git-subtree-dir: vendor/git.knownelement.com/RWSCP/LLCOperatingAgreement-Markdown
git-subtree-split: e94b20ab579950872216af3b5c801eadef99b351
2024-12-10 05:53:12 -06:00

1.0 KiB

Resignation and Removal of Members

Expulsion of a member for Cause

Expulsion of a Member requires an affirmative vote by a 2/3 or greater majority of the Board Of Directors (in accordance with the Board Manual and Charter in effect at that time) and by written unanimous consent of the Company Members.

The Member subject to expulsion is not eligible to vote in the proceeding.

The Member subject to explulsion forefits all equity/interests/rights/contributions and any/all Membership interest immediately upon expulsion.

Self withdrawal of a Member

Self withdrawal of a Member requires an affirmative vote by a 2/3 or greater majority of the Board Of Directors (in accordance with the Board Manual and Charter in effect at that time) and by written unanimous consent of the Company Members.

The Member requesting self withdrawal is not eligible to vote in the proceeding.

The Member subject to explulsion forefits all equity/interests/rights/contributions and any/all Membership interest immediately upon resignation.