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Charles N Wyble
2025-03-04 13:47:05 -06:00
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src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md
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@@ -825,16 +825,36 @@ All records of the Company and its series shall be maintained exclusively in ele
#### 3.3.4 - Limited Exceptions #### 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: 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; a. The transaction is documented in the electronic records system;
b. The Campus Trading Company LLC systems are used for processing; 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: 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; a. Prior written approval of the Board Chair or their designee;
b. Notification to Redwood Springs Capital Partners Group LLC within 24 hours; 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 ## ARTICLE 4 - SERIES ESTABLISHMENT AND MAINTENANCE