From 916f54aff3a7205f59dbc8240884a93a7fae3fe0 Mon Sep 17 00:00:00 2001 From: Charles N Wyble Date: Tue, 4 Mar 2025 14:08:08 -0600 Subject: [PATCH] . --- ...keyNetworkSystemsLLC-OperatingAgreement.md | 24 +++++++++++++++++++ 1 file changed, 24 insertions(+) diff --git a/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md b/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md index cb84fce..6b7041c 100644 --- a/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md +++ b/src/TXSOS-Registered-ForProfit/TurnkeyNetworkSystemsLLC/TurnkeyNetworkSystemsLLC-OperatingAgreement.md @@ -1453,19 +1453,43 @@ Known Element Enterprises (series) LLC and The Campus Trading Company (series) L #### 5.2.3 - Obligations 1. **Compliance Obligations**: Class A Members shall: + a. Comply with all provisions of this Agreement and the applicable series operating agreement; + b. Adhere to all policies and procedures established by the series and the Board; + c. Maintain the confidentiality of series information; + d. Discharge any fiduciary duties applicable to their role; and + e. Fulfill any other obligations specified in the applicable series operating agreement. 2. **Notification Requirements**: Class A Members must immediately notify the series and the Company Committee of: + a. Any legal proceedings that may affect their membership interest; + b. Any bankruptcy proceedings; + c. Any divorce proceedings where the membership interest may be contested; + d. Any creditor claims against their membership interest; and + e. Any other event that could trigger conversion to Class C status under Section 5.5. +3. **Conflict of Interest Obligations**: Class A Members shall: + + a. Disclose in writing all actual and potential conflicts of interest; + + b. Annually certify compliance with conflict of interest policies; + + c. Recuse themselves from voting on matters where they have a conflict; + + d. Not compete with the series or Company without prior written authorization; + + e. Not usurp business opportunities that should first be offered to the series; and + + f. Not use series property, information, or position for improper personal gain. + ### Section 5.3 - Class B Membership Interests (Economic Interest Members) #### 5.3.1 - Definition and Classification