diff --git a/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md b/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md index f83a44b..708dc02 100644 --- a/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md +++ b/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md @@ -825,16 +825,36 @@ All records of the Company and its series shall be maintained exclusively in ele #### 3.3.4 - Limited Exceptions 1. **De Minimis Exception**: Transactions under $10,000 in aggregate value within any 12-month period may proceed without formal Redwood Springs Capital Partners Group LLC involvement, provided that: + a. The transaction is documented in the electronic records system; + b. The Campus Trading Company LLC systems are used for processing; - c. The transaction is reported to Redwood Springs Capital Partners Group LLC within 10 business days; and - d. The transaction does not involve issuance of securities or profit interests. + + c. The transaction is reported to Redwood Springs Capital Partners Group LLC within 10 business days; + + d. The transaction does not involve issuance of securities or profit interests; and + + e. The aggregate of all de minimis exceptions for a series does not exceed $25,000 in any 24-month period. 2. **Emergency Exception**: In case of bona fide emergencies threatening the immediate viability of a series, temporary emergency funding may be accepted with: + a. Prior written approval of the Board Chair or their designee; + b. Notification to Redwood Springs Capital Partners Group LLC within 24 hours; - c. Full documentation submitted within 3 business days; and - d. Restructuring of the emergency funding through proper channels within 30 days. + + c. Full documentation submitted within 3 business days; + + d. Restructuring of the emergency funding through proper channels within 30 days; and + + e. A detailed written explanation of: + + i. The nature of the emergency; + + ii. Why normal channels were insufficient; + + iii. The source of emergency funding; and + + iv. The plan to prevent similar emergencies in the future. ## ARTICLE 4 - SERIES ESTABLISHMENT AND MAINTENANCE