OPERATING AGREEMENT OF SBS FINANCIAL PRODUCTS COMPANY, LLCOperating Agreement • May 17th, 2005 • Siebert Financial Corp • Security brokers, dealers & flotation companies • New York
THIS OPERATING AGREEMENT (this “Agreement”) of SBS Financial Products Company, LLC, a Delaware limited liability company (the “Company”), dated effective as of April 19, 2005, is among Napoleon Brandford III, Suzanne F. Shank and Siebert Financial Corp., a corporation organized and existing under the laws of the State of New York (the “Initial Members”). Additional persons may be admitted as members of the Company upon satisfaction of the conditions set forth herein and upon execution and delivery to the Company of Supplemental Signature Pages in the form attached to this Agreement as Exhibit A, whereupon they shall become parties to this Agreement. Each Person who is a party to this Agreement shall be called a “Member.”
