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Revenue Code. Any provisions herein that may cause may cause the Company <br />not to be taxed as a sole proprietorship shall be inoperative, <br />9. Rights, Powers and Obligations of Member. <br />a. Authority. CARRICK BAILEY as <br />sole member of the <br />has <br />sole authority and power to act for or on behalf of the Company, t do any <br />act that would be binding on the Company, or incur any expenditures on <br />behalf of the Company. <br />b. Liability to Third Parties. The Member shall not be liable for the debts, <br />obligations or liabilities of the Company, including under a judgment, <br />decree or order of a court. <br />c. Rights, Powers and Obligations of Manager. <br />d. The Company is organized as a "member -managed" limited liability <br />company. <br />e. The Member is designated as the initial managing member. <br />f. Ownership of Companv Prorerty. <br />The Company's assets shall be deemed owned by the Company as an <br />entity, and the Member shall have no ownership interest in such assets or <br />any portion thereof. Title to any or all such Company assets may be held <br />in the name of the Company, one or more nominees or in "street, name", <br />as the Member may determine. <br />g. Other Activities. <br />Except as limited by the Statutes, the Member may engage in other <br />business ventures of any nature, including, without limitation by <br />specification, the ownership of another business similar to that operated <br />by the Company. The Company shall not have any right or interest in any <br />such independent ventures or to the income and profits derived therefrom. <br />10. Limitation of Liability Indemnification. <br />a) Limitation of Liability and Indemnification of Member. <br />I. The Member (including, for purposes of this Section, any estate, <br />heir, personal representative, receiver, trustee, successor, <br />Page 3 of 6 <br />Copyright© 2016 by eForms <br />