LAO Units and New Members

Will LAO Units be transferrable?

With limited exception, as detailed in the operating agreement, members cannot transfer LAO Units or Tokens, if created, unless otherwise agreed to by the members, by majority vote.

If a member "rage quits" and leaves The LAO can new members join?

Members by a majority vote can accept new capital commitments from new joining members and admit them into The LAO. Any new member (or, if applicable, group of members) must provide the same initial contribution as an exiting member.

Can a member be forced out of The LAO?

Members of The LAO may be required to leave if members of The LAO vote to remove the respective member. The service provider cannot remove any LAO member unless otherwise authorized by a vote by a majority of the members.