DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes according to that Member’s percent of ownership interest (e.g., 11% ownership equals 11 votes). A majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests is present for the vote. In the event of a split vote among the Members, the Chief Executive Member shall cast a vote to break the tie. Members are required to vote on at least one (1) resolution that attempts to address and resolve the dispute among the Members prior to any Member bringing a direct action under Section 4131 of the Statutes. Subject to Section 4132 of the Statutes, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Member(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes according to that Member’s percent of ownership interest (e.g., 11% ownership equals 11 votes). A majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests is present for the vote. In the event of a split vote among the Members, the Chief Executive Member shall cast a vote to break the tie. Members are required to vote on at least one (1) resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action against the Company or other Members. Members may maintain a derivative action to enforce a right of the Company in accordance with Section 23-18-8-1 of the Act, provided the acting Member properly demands the other Member(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes according to that Member’s percent of ownership interest (e.g., 11% ownership equals 11 votes). A majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests is present for the vote. In the event of a split vote among the Members, the Manager(s) shall cast a vote to break the tie. Members are required to vote on at least one (1) resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action against the Company, its Managers, or other Members. Subject to Section 00-00-000 of the Act, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the Manager(s) to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A member has the amount of votes according to the Members percent of interest. (Example: 11% is 11 votes.) There has to be a majority vote for an action to take place.
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote.
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes according to that Member’s percent of ownership interest (e.g., 11% ownership equals 11 votes). In the event of a split vote among the Members, the Chief Executive Manager shall cast a vote to break the tie. Members are required to vote on at least one resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action under Section 48-3a-801 of the Act. Subject to Section 48-3a-802 of the Act, Members may maintain a derivative action to enforce a right of the Company, provided the acting Member properly demands the other Members to enforce the right of the Company, or the acting Member adequately declares with particularity that such demands are futile.
DISPUTES OF MEMBERS. Disputes among Members will be decided by a majority vote. A Member has votes proportional to that Member’s membership interest (e.g., 11% ownership equals 11 votes). A majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests is present for the vote. In the event of a split vote among the Members, the status quo remains, and no deviating action may occur. Members are required to vote on at least one resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action under Section 00-00-000 of the Act. Members may maintain a derivative action to enforce a right of the DAO, provided the acting Member properly demands the other Member(s) to enforce the right of the DAO, or the acting Member adequately declares with particularity that such demands are futile.
DISPUTES OF MEMBERS. Disputes among Members will be decided by a qualified majority vote by the Members holding the governance tokens. A Member has votes proportional to that Member’s amount of governance tokens (e.g., 11% such tokens equals 11 votes). A qualified majority vote is necessary for an action to take place. Any vote under this Section may occur, provided a quorum of the membership interests and/or governance tokens is present for the vote. In the event of a split vote among the Members, the status quo remains, and no deviating action may occur. Members are required to vote on at least one resolution that attempts to address and resolve the dispute between the Members prior to any Member bringing a direct action under Section 00-00-000 of the Act. Members may maintain a derivative action to enforce a right of the DAO, provided the acting Member properly demands the other Member(s) holding governance tokens to enforce the right of the DAO, or the acting Member adequately declares with particularity that such demands are futile.
