Under what circumstances can Marble Slab Creamery members call a meeting?
Marble_Slab_Creamery Franchise · 2025 FDDAnswer from 2025 FDD Document
ARTICLE 4. -- MEETINGS OF MEMBERS
- 4.1 Meetings. Meetings of Members are not required, but may be called by Members holding at least ten percent (10%) of the Percentage Interests held by Members or the Manager. No business shall be transacted at any meeting of Members except as is specified in the notice calling such meeting.
- 4.2 Place of Meetings. The Members or the Manager may designate any place as the place of meeting for any meeting of the Members. If no designation is made, the place of meeting shall be the principal office of the Company specified in Section 1.5.
- 4.3 Notice of Meetings. Written notice stating the place, day and time of the meeting and the purpose for which the meeting is called shall be delivered, in accordance with Section 10.1, not less than ten (10) nor more than fifty (50) days before the date of the meeting by or at the direction of the Members or the Manager calling the meeting, to each Member entitled to vote at such meeting.
Source: Item 23 — RECEIPT (FDD pages 101–346)
What This Means (2025 FDD)
According to Marble Slab Creamery's 2025 Franchise Disclosure Document, meetings of members are not required but can be initiated under specific conditions. Members holding at least ten percent of the total percentage interests held by all members, or the Manager, have the authority to call a meeting. This provision ensures that members with a significant stake in the company can convene a meeting to discuss important matters.
When a meeting is called, the notice must specify the business to be transacted during the meeting. This ensures that all members are aware of the meeting's purpose and can prepare accordingly. The meeting can be held at any location designated by the members or the Manager. If no specific location is designated, the meeting will take place at the company's principal office.
For a prospective Marble Slab Creamery franchisee, this means that if they acquire at least 10% of the total member interests, they gain the right to call a meeting to address concerns or propose changes. The written notice must be delivered between ten and fifty days before the meeting date, outlining the meeting's purpose, location, date, and time. This ensures transparency and allows all members to participate effectively.