DISTRIBUTION AND NOTICE. Capital share distributions shall be evidenced by written notices of allocation delivered to active recipient members within six (6) months following the close of the calendar year. The Member’s full capital contribution must have been received within three (3) years prior to the issuance of the notice of distributions. All notices, except those subject to this Article, Section 3 hereof, shall be accompanied by checks in an amount determined by the Board. Any allocations of such a nominal amount as not to justify the expense of distribution may be excluded from distribution as determined by the Board.
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
