Accordance With the Act; Ownership. Except as expressly set forth in this Agreement to the contrary, the rights and obligations of the Members, and the administration, operation and termination of the Fund shall be governed by the Act, as it may be amended. The interest of each Member in the Fund shall be personal property for all purposes. All real and other property owned by the Fund shall be deemed owned by the Fund as an entity, and no Member, individually, shall have any ownership interest in such property.
Appears in 5 contracts
Samples: Operating Agreement (Oxbow Fund LLC), Operating Agreement (Oxbow Fund LLC), Operating Agreement (Oxbow Fund LLC)
