FC Minneapolis is a Member(s) managed Limited Liability Company that was formed in accordance with the laws of the State of Minnesota. The Company’s purpose is to operate a men’s professional soccer club and a youth soccer academy. All Members’ rights and obligations are as stated in Chapter 322C of the Minnesota Statutes Act or as otherwise stated by the Members Control Agreement.
New Members may be admitted to the Company only with a majority vote of the existing Members and providing a capital contribution in an amount and terms agreed to by the existing Members, based upon the net value of the Company’s assets.
The Net Profits or Losses, for both accounting and tax purposes, are accrued to and bore by the Members in proportion to the Members’ Capital Contributions inclusive of any Additional Capital Contributions. Also distributions to Members are made in proportion to the Members’ Capital Contributions inclusive of any Additional Capital Contributions and no Member has priority over any other Member for the distribution of Net Profits or Losses.
For more details about our company’s governance please e-mail us at firstname.lastname@example.org or call us at (612) 758-0192