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An operating agreement is a key document used by limited liability companies (LLCs) to outline the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners, called "members".
In order to attract additional investors, in 2002 the league announced changes to the operating agreement between the league and its teams to improve team revenues and increase the incentives to be an individual team operator. [8]
Economic Condition Reporting: The Statistical Section—an amendment of NCGA Statement 1: May 2004: Amended by various GASBS; 45. Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions: June 2004: Superseded by GASBS 75; 46. Net Assets Restricted by Enabling Legislation—an amendment of GASB Statement ...
Directors meetings, including the quorum number and the percentage of vote needed to pass a motion; Confidentiality and the founders' agreement with penalties for disclosure; First right of refusal for purchase rights and counter-bids by a founder. Drag-along provisions, or when the majority shareholders force a sale on the other shareholders.
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[1] Six years after the act became law, the Act was augmented by the Airport and Airway Development Act Amendments of 1976. The 1976 legislation was signed into law by President Gerald Ford in order to "make possible the continuing modernization of our airways, airports, and related facilities in communities throughout the 50 States."
Text of the Water Industry Act 1991 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk. Water portal The Water Industry Act 1991 (c. 56) is an Act of the United Kingdom Parliament consolidating previous enactments relating to the water supply and the provision of wastewater services in England and Wales.
A buy–sell agreement consists of several legally binding clauses in a business partnership or operating agreement or a separate, freestanding agreement, and controls the following business decisions: Who can buy a departing partner's or shareholder's share of the business (this may include outsiders or be limited to other partners/shareholders);
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