From 3295970c05f83d1d71e1ac4f4fa537b39563f5fb Mon Sep 17 00:00:00 2001 From: Charles N Wyble Date: Tue, 4 Mar 2025 14:02:29 -0600 Subject: [PATCH] . --- ...rnkeyNetworkSystemsLLC-OperatingAgreement.md | 17 +++++++++++++++++ 1 file changed, 17 insertions(+) diff --git a/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md b/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md index 670cb82..cb84fce 100644 --- a/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md +++ b/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md @@ -1344,11 +1344,28 @@ Known Element Enterprises (series) LLC and The Campus Trading Company (series) L g. Regularly adjust pricing to maintain cost-only status. 3. **Reserve Requirements**: Cost-only series may maintain reasonable reserves only for: + a. Equipment replacement and upgrades; + b. Facility maintenance and improvements; + c. Emergency funds; + d. Research and development directly related to service improvements; and + e. Training and professional development for personnel. + + All reserves shall be: + + f. Clearly documented in financial statements; + + g. Subject to annual review and approval by the Audit and Finance Committee; + + h. Limited to a maximum of 15% of annual operating expenses unless specifically approved by the Board; + + i. Maintained in segregated accounts; and + + j. Reported quarterly to all service users with explanation of purpose and utilization plans. 4. **Transparency Obligations**: Cost-only series must: a. Provide detailed cost breakdowns to all service users;