Trillionaire Investors League LLC
Please Review Contract:
Trillionaire Investors of Oregon: Chapter I
Please Review Contract:
Trillionaire Investors of Oregon: Chapter I
NOW, THEREFORE IT IS AGREED:
1. Age. All members must be 18 years of age or older.
2. Formation. The undersigned hereby form a General Membership in accordance with and subject to the laws of the State of Oregon .
3. Name. The name of the membership shall be Trillionaire Investors of Oregon: Chapter I .
4. Membership Fees. Three hundred dollars ($300) will be due for each member. Two hundred fifty dollars ($250) application fee, and an initial fifty-dollar ($50) capital investment.
a. Existing members pay a $100 application fee when purchasing a new seat.
5. Annual Fees. After each year of membership, there shall be an annual fee of one hundred dollars ($100). Annual fees shall be due March of every year by the 5th day of the month.
6. Payments. Payment is due by the 5th day of each month for members. Members are required to set up for recurring card payments.
a. Lack of Payment.
i. See article 21.
b. Payment Arrangement.
i. All changes to payment date must be approved by Trillionaire Investors League LLC.
7. Refunds. No refunds.
8. Term. Membership shall be recognized as the following 1. Full payment of membership dues 2. Signed membership agreement. Membership is renewed when annual dues are paid in full.
9. Meetings. Periodic meetings shall be held once a month on a date determined by Trillionaire Investors League LLC.
10. Voting. Each member shall have one vote per company choice. Open voting dates shall be determined by Trillionaire Investors League LLC.
11. Stock Choices. Submitting a stock choice for the month shall be voluntary. Members may only submit one company per month during open stock choice submission. Open stock choice submission dates shall be determined by Trillionaire Investors League LLC.
a. Members will only vote on companies that have been submitted and approved by Trillionaire Investors League LLC.
12. Seat Equity. Seat equity shall be determined by the following formula: Membership entry fee + Annual dues + Total Investment gains.
a. $250 + ( 12.5 x Months ) + ( Capital Account Total / Current Members )= Seat Equity
b. Seat Equity is equal to the total value your position can be sold for.
13. Capital Accounts. Each member shall have equal share to the balance in the capital account, divided among the current members.
14. Capital Investments. All securities are held for 5 years. Once 5-year maturity is reached, the securities will be sold and distributed evenly amongst members in the month maturity is reached.
15. Management. Trillionaire Investors League LLC shall manage and conduct the affairs of the membership’s capital accounts.
16. Books of Account. Books of the capital account transactions shall always be kept and they shall be open to examination by any member.
17. Annual Accounting. Each calendar year, a full and complete account of the condition of the Membership capital accounts shall be made to the members.
18. Brokerage Account. The securities will be held by TD Ameritrade .
19. Additional Members. After the first month of operation, additional members may enter at the discretion of Trillionaire Investors League LLC. The number of Members does not exceed twenty-five (25).
a. Additional members must initially contribute all monies (membership entry fee, each month’s capital investment since first operation date, and gains on the investment account) up to the average of the total capital account amount.
i. Example: There are 5 members, who each invest $50 per month. After 3 months, each member invested a total of $150. The portfolio valuation is worth ($150 x 5 members = $750, plus $75 in gains) $825 in total. The total capital gains are $75, and each current member has earned $15. Additional members must contribute $165 ($15 + $150 = $165) in addition to the membership entry fee of $250. Totaling $415.
20. Termination of Membership. Trillionaire Investors League LLC reserves the right to terminate members at any time. Trillionaire Investor League LLC must terminate membership in writing. Members must receive a full refund of their investment including their membership fee.
21. Voluntary Withdrawal of Membership. Members shall be given a notice to make an approved arrangement via email. If no arrangement is made, a 3-day voluntary withdrawal notice shall be sent via email on the 15th of the month.
a. There shall be no monetary payment owed to members who withdraw voluntarily.
b. Voluntarily withdrawn members shall have their portion of the capital investment dispersed evenly to current members in their chapter. This will serve as restitution to the team for the reduction in the monthly buying power.
22. Death or Incapacity of a Member. In the event of the death or incapacity of a member, the member may choose to set up a proxy (a person or entity) to take over the affairs of the seat.
a. Members must submit the request for a proxy to be assigned to Trillionaire Investors League LLC via email.
i. The proxy must be 18 years or older.
ii. The limitations for the proxy must be specified in writing via email.
23. Forbidden Acts. No Member outside of Trillionaire Investors League LLC shall:
a. Have the right or authority to bind or obligate the Membership to any extent whatsoever with regard to any matter.
b. Use the name, credit, or property for reasons other than Membership purposes.
c. Do any act previous or after Membership Agreement that is detrimental to the interests of the Membership or which would make it impossible to carry on the business or affairs of the Membership.
This Agreement of Membership shall be binding upon the respective heirs, executors, administrators, and personal representatives of the members.
24. 26 US Code Sections 6221-6223 designation and election. The Membership's Treasurer/Financial Member shall be the designated Membership Representative (MR) for purposes of 26 USC Section 6223 and shall be responsible for dealing with the IRS in the event of an audit. Unless otherwise directed by Trillionaire Investors League LLC, the MR shall annually, in connection with filing the Membership's IRS Form 1065 tax return, indicate the Membership elects to be treated under 26 USC subsection 6221(b)(1)(a), that is, an election out of the audit rules of 26 USC Section 6221. The Treasurer shall include with such an election any required information to make such an election effective. In the event of an IRS audit, the MR will represent the Membership but is not authorized to make any settlement agreement without the unanimous consent of Trillionaire Investors League LLC.
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