Membership Voting. Except as otherwise may be required by the Articles of Organization, Certificate of Formation or a similar organizational document, other provisions of this operating agreement, or under the laws of this state, each member shall vote on any matter submitted to the membership for approval in proportion to the member's percentage interest in this LLC. Further, unless defined otherwise for a particular provision of this operating agreement, the phrase "majority of members" means the vote of members whose combined votes equal more than 50% of the votes of all members in this LLC.
Membership Voting. A. Membership will consist of five entities, with some entities having multiple seats with each seat granted one vote: City of DeKalb (3), the City of Sycamore (2), DeKalb County Government (2), Northern Illinois University (1), and the State of Illinois acting by and through the Illinois Department of Transportation (1) for a total of 9 membership seats and votes. New entities, and new or current membership seats, may only be added or deleted by amending this IGA by all then-current entities.
B. The Governing Body (or Chief Elected Official, or Chief Executive Official, as the rules for each entity so determine), of each member organization will appoint persons to fill the various seats for terms determined by each individual entity. Appointments for Alternate members may also be made to serve when the primary appointment(s) cannot serve. All appointments shall be made in writing to the Chairman of the Policy Committee of the MPO.
C. A quorum for a Policy Committee meeting shall be a majority of the membership and all action items approved by the Policy Committee shall be by a simple majority vote of the members present, unless otherwise stated.
D. Members of the Policy Committee may not receive a salary from the MPO.
E. The Policy Committee may offer voice to other individuals and entities as deemed appropriate, but voting rights are reserved as stipulated in this document.
F. The Town of Cortland hereby waives any membership or voting rights on the Policy Committee and consequently incurs no current or future financial obligations.
Membership Voting. A. Membership will consist of six entities, with some entities having multiple seats with each seat granted one vote: City of DeKalb (3), the City of Sycamore (2), the Town of Cortland (1), DeKalb County Government (1), Northern Illinois University (1), and the State of Illinois acting by and through the Illinois Department of Transportation (1) for a total of 9 membership seats and votes. New entities, and new or current membership seats, may only be added or deleted by amending this IGA by all then-current entities.
B. The Governing Body (or Chief Elected Official, or Chief Executive Official, as the rules for each entity so determine), of each member organization will appoint persons to fill the various seats for terms determined by each individual entity. Appointments for Alternate members may also be made to serve when the primary appointment(s) cannot serve. All appointments shall be made in writing to the Chairman of the Policy Committee of the MPO.
C. A quorum for a Policy Committee meeting shall be a majority of the membership and all action items approved by the Policy Committee shall be by a simple majority vote of the members present, unless otherwise stated.
D. Members of the Policy Committee may not receive a salary from the MPO.
E. The Policy Committee may offer voice to other individuals and entities as deemed appropriate, but voting rights are reserved as stipulated in this document.
Membership Voting. Except as otherwise may be required by the articles of organization, certificate of formation, or a similar organizational document, by other provisions of this operating agreement, or under the laws of this state, each member shall vote on any matter submitted to the membership for approval in proportion to the member's percentage interest in this LLC. Further, unless defined otherwise for a particular provision of this operating agreement, the phrase "majority of members" means the vote of members whose combined votes equal more than 50% of the votes of all members in this LLC, and a majority of members, so defined, may approve any item of business brought before the membership for a vote unless a different vote is required under this operating agreement or state law.
Membership Voting. A. Membership will consist of five entities, with some entities having multiple seats with each seat granted one vote: City of DeKalb (3), the City of Sycamore (2), DeKalb County Government (2), Northern Illinois University (1), and the State of Illinois acting by and through the Illinois Department of Transportation (1) for a total of 9 membership seats and votes. New entities, and new or current membership seats, may only be added or deleted by amending this IGA by all then-current entities.
B. The Governing Body (or Chief Elected Official, or Chief Executive Official, as the rules for each entity so determine), of each member organization will appoint persons to fill the various seats for terms determined by each individual entity. Appointments for Alternate members may also be made to serve when the primary appointment(s) cannot serve. All appointments shall be made in writing to the Chairman of the Policy Committee of the MPO.
C. A quorum for a Policy Committee meeting shall be a majority of the membership and all action items approved by the Policy Committee shall be by a simple majority vote of the members present, unless otherwise stated.
D. Members of the Policy Committee may not receive a salary from the MPO.
Membership Voting. An Operating Agreement should clearly define how membership votes are calculated, who has voting rights and what sort of approval (majority, super‐majority, unanimous) is required for certain decision or actions of the company.
Membership Voting. As a single-member LLC there is no need for this provision, however if in the future other members are added, this provision will be required and updated..
Membership Voting. As to any matter to which the members are entitled to vote, each member shall have the right to one (1) vote for each unit registered in the name of such member as shown in the unit ledger.
Membership Voting. Both members have equal 50/50 voting rights to the LLC and 50/50 team ownership rights.
