9.1 Pursuant to Section 7-80-401 of the Law, the Members will manage the daily affairs of the business. A majority vote by membership interest will be called to elect a Chief Executive Member, who will also serve as the Company’s agent.
9.2 The Chief Executive Member may only be terminated, asked to step down, or replaced by a two-thirds majority vote according to an individual membership interest in favor of such an action.
9.3 Any decision that involves a sale of the business, a loan, or the acquisition of another company, must have the unanimous consent of all Members; and
9.3.1 If a Member disagrees with the Chief Executive Member’s decision or proposed decision, the Member may call a vote to decide the course of action. A vote by a simple majority must be taken in order for any ordinary member to execute an action on the Company’s behalf, and such votes must be recorded in writing.
9.4 If authorized by a majority vote of the Members, the Chief Executive Member may appoint officers or managers and define their function and authority.
10.1 Under the Agreement of the Law, members must maintain accurate bookkeeping records of the Company's finances and business affairs at its principal address or other location that the Members may agree on. The Company’s method of accounting will be chosen by the Members, and it is agreed that the Company's accounting year-end period will be (insert year-end period).
10.2 The Company must keep the following records on file at its principal address:
10.2.1 An updated list of the full names and last known addresses of all members;
10.2.2 A copy of the Company’s formation documents, this Agreement, with amendments if applicable;
10.2.3 An up-to-date copy of the Company's local, state, and federal income tax returns for the three (3) most recent years;
10.2.4 Copies of all minutes, if any, of each meeting of the Members;
10.2.5 Copies of the Company’s financial statements for the three (3) most recent years.