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MMP » Topics » Section 3.01 Membership Interests; Additional Members

This excerpt taken from the MMP 8-K filed Sep 30, 2009.

Section 3.01    Membership Interests; Additional Members

The Members own Membership Interests in the Company as reflected in Exhibit A attached hereto. Persons may be admitted to the Company as Members, on such terms and conditions as the Members determine at the time of admission. The terms of admission or issuance must specify the Sharing Ratios applicable thereto and may provide for the creation of different classes or groups of Members having different rights, powers, and duties. The Members may reflect the creation of any new class or group in an amendment to this Agreement indicating the different rights, powers, and duties, and such an amendment shall be approved and executed by the Members. Any such admission is effective only after such new Member has executed and delivered to the Members and the Company an instrument containing the notice address of the new Member, the new Member’s ratification of this Agreement and agreement to be bound by it.

"Section 3.01 Membership Interests; Additional Members" elsewhere:

MAGELLAN MIDSTREAM HOLDINGS LP (MGG)
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