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Operating Agreement.md

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#Article I Description

  • Name: Minimum Viable Brewing LLC
  • Location: Seattle, WA.
  • Duration: Perpetual

#Article II Purpose

  1. Create a nano brewery with a physical presence in Seattle, WA.
  2. Be awesome.
  3. Break even. Maybe.

#Article III Members

  • Anyone who commits to intitial funding round of $4,500 is a member. This section will be changed once that occurs.
  • New members require a full majority and some investment to be set by same vote.

#Article IV Powers

  • All members are directors.
  • A majority of a quorum of directors may approve expenditures up to the lesser of $100 or the current funds available.
  • Directors may spend up to $100 each month, without approval.

#Article V Meetings

  • Monthly meetings shall be arranged
  • Notice of time and place must be given at least one week in advance.
  • Special meetings may be conducted with less than one week of given notice, and may approve motions through the same voting process, however passed motions are subject to one week of review.
  • Virtual meetings are fine but are subject to one week review.

##Voting

  • Voting may only occur during meetings.
  • When voting, a quorom of over one half or more of directors is required for approval.
  • When passed with full majority, a movement may be enacted immediatly and without review.
  • Proxies may be granted. The proxy delegation must be documented in advance of the vote by the principal posting to the Facebook group the name of the proxy they wish to bestow voting rights to. The proxy exists for the duration of a single meeting.

#Article V Member Removal Requires 3/4 vote and compensation of 1/2 of investment to date.

#Article VI Boring There are no officers, no restrictions, and no anti-discrimination clause.

#Article VII Funds

  • Deposits and refunds are pulled from one checking account.
  • Minimum of three members have name on account at anytime.
  • Contracts require full majority.
  • Loans require unanimous vote.

#Article VII Dissolution All assets shall be sold off and funds divided amongst directors.

#Article VIII Operating Agreement Changes Operating Agreement changes are made by passing a meeting vote with full majority.