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LLCs operating without an operating agreement are governed by the state's default rules contained in the relevant statute and developed through state court decisions. An operating agreement is similar in function to corporate by-laws, or analogous to a partnership agreement in multi-member LLCs. In single-member LLC, an operating agreement is a ...
A community benefits agreement (CBA) in the United States is a contract signed by community groups and a real estate developer that requires the developer to provide specific amenities and/or mitigations to the local community or neighborhood. In exchange, the community groups agree to publicly support the project, or at least not oppose it.
MISO is governed by an independent ten-member Board of Directors, consisting of nine independent directors elected by the membership, and the president of MISO. [14] No board member may have been a director, officer, or employee of a member, user, or affiliate of a member or user for two years before or after the election to the Board.
A series limited liability company, commonly known as a series LLC, protected cell company, segregated account company, or segregated portfolio company, and sometimes abbreviated as SLLC, is a form of a limited liability company that provides liability protection across multiple "series" each of which is theoretically protected from liabilities arising from the other series.
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The Multi-State Lottery Association (MUSL) is an American non-profit, government-benefit association owned and operated by agreement of its 34-member lotteries. MUSL was created to facilitate the operation of multi-jurisdictional lottery games, most notably Powerball. MUSL was formed in December 1987, by seven U.S. lotteries.
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