Common use of Adding Members Clause in Contracts

Adding Members. In the interest of sustaining and growing the Cooperative, new members may be added to the Cooperative under the following process: a. The person interested in becoming a member of the Cooperative will be presented by one of the Members as a "Candidate Member" and with majority approval will begin a period of candidate membership lasting six months, during which the Candidate Member can participate in all activities of the Cooperative except voting on Cooperative decisions as defined by this agreement. b. At the end of the six month candidate membership, a Candidate Member wishing to become a member of the Cooperative will state their desire to become a Member at a membership meeting, and obtain the approval of two thirds of the Members to join their ranks. c. Having achieved a two thirds approval to join the Cooperative, the Candidate Member must agree to contribute either $5000.00 or 100 hours of labor to the Cooperative, upon completion of which this agreement will be modified to add their name to the list of Members and they will be a Member in full standing as defined in this agreement. d. A member who has left the cooperative and wishes to return can be reinstated as a member provided a year has elapsed since they left with a two thirds approval of the membership. The only exception to this process will be for Interns of the Cooperative, as defined in the section on Interns below.

Appears in 1 contract

Sources: Limited Liability Company Operating Agreement

Adding Members. In the interest of sustaining and growing the Cooperative, new members may be added to the Cooperative under the following process: a. The person interested in becoming a member of the Cooperative will be presented by one of the Members as a "Candidate Member" and with majority approval will begin a period of candidate membership lasting six months, during which the Candidate Member can participate in all activities of the Cooperative except voting on Cooperative decisions as defined by this agreement. b. At the end of the six month candidate membership, a Candidate Member wishing to become a member of the Cooperative will state their desire to become a Member at a membership meeting, and obtain the approval of two thirds of the Members to join their ranks. c. Having achieved a two thirds approval to join the Cooperative, the Candidate Member must agree to contribute either $5000.00 or 100 hours of labor to the Cooperative, upon completion of which this agreement their name will be modified to add their name added to the list of Members in Appendix A and they will be a Member in full standing as defined in this agreement. d. A member who has left the cooperative and wishes to return can be reinstated as a member provided a year has elapsed since they left with a two thirds approval of the membership. The only exception to this process will be for Interns of the Cooperative, as defined in the section on Interns below.

Appears in 1 contract

Sources: Limited Liability Company Operating Agreement