Both Directors and Members. A Member may at the same time be a Director and a Member in which event such Member's rights and obligations in each capacity shall be determined separately in accordance with the terms and provisions of this Agreement or as provided by the laws of the State of Illinois.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement (Asa Managed Futures Fund LLC), Limited Liability Company Operating Agreement (Asa Hedged Equity Fund LLC), Limited Liability Company Operating Agreement (Asa Debt Arbitrage Fund LLC)