Bylaws

[Name of LLC] LLC Bylaws

ARTICLE I: Name and Purpose

Name: The legal name of this organization is [Name of LLC] LLC. Purpose: The LLC is organized to operate a residential retreat center providing coliving spaces with fractional ownership, promoting sustainable living and community engagement. It aims to manage properties responsibly, ensure member satisfaction, and foster a cooperative environment.

ARTICLE II: Office

Principal Office: The principal office of the LLC will be located at [Office Address]. The LLC may have other offices as determined by the Board of Directors.

ARTICLE III: Membership

Eligibility: Membership is open to any person who supports the purpose statement in Article I, Section 2, completes a membership application, and purchases a membership share. Rights of Members: Members have the right to attend meetings, vote on matters presented to the membership, elect the Board of Directors, and receive information about the operations and finances of the LLC. Obligations of Members: Members are expected to contribute financially as required by the Operating Agreement and to actively participate in LLC activities and governance. Meetings: There shall be an annual meeting of the membership. Special meetings may be called by the Board or at the request of at least 25% of the members. Voting: Each member shall have one vote on each matter submitted to a vote at a meeting of the members.

ARTICLE IV: Board of Directors

Number, Powers, and Duties: The Board is responsible for overall policy and direction of the LLC and delegates responsibility for day-to-day operations to the LLC staff and committees. The Board shall have up to seven but not fewer than three members. Election and Term of Office: Directors are elected by members at the annual meeting. Directors serve a term of three years and until their successors are elected. Meetings: The Board shall meet at least quarterly, with provisions for special meetings as needed. Notice of all meetings must be given at least two weeks in advance. Quorum and Voting: A quorum at a Board meeting shall be a majority of Directors then in office. Decisions are made by a majority vote of Directors present at a meeting at which there is a quorum.

ARTICLE V: Officers

Officers: The officers of the LLC will include a President, Secretary, and Treasurer, and such other officers as the Board deems advisable. Appointment and Term: Officers are appointed by the Board and serve at the pleasure of the Board, subject to contractual rights, if any.

ARTICLE VI: Committees

Establishment: The Board may create committees as needed. Each committee shall have two or more Directors, who serve at the discretion of the Board.

ARTICLE VII: Financial Policies

Fiscal Year: The fiscal year of the LLC shall be the calendar year. Patronage Dividend: The Board may authorize the return of patronage dividends to members, based on the LLC’s financial performance and any criteria established by the Board. Books and Records: The LLC shall keep correct and complete books and records of account and shall also keep minutes of the proceedings of its Members, Board, and committees.

ARTICLE VIII: Indemnification

General: To the fullest extent legally permissible, the LLC shall indemnify any person who is or was a party or is threatened to be made a party to any threatened, pending, or completed action, suit, or proceeding by reason of the fact that he or she is or was a representative of the LLC, against expenses (including attorney's fees), judgments, fines, and amounts paid in settlement.

ARTICLE IX: Amendments

Procedure: These Bylaws can be altered, amended, or repealed, and new Bylaws may be adopted by the affirmative vote of at least two-thirds of the Board of Directors present at any regular or special meeting, provided that at least two weeks' written notice is given of intent to alter, amend, or repeal or to adopt new bylaws at such meeting.