I am going to be honest with you, I feel somewhat bad that I don't have any corrections, or really any criticism to make about the agreement. It is pretty standard, boilerplate stuff, but it hits all of the necessary high points.
I will say this:
- Sometimes, I have found that operating agreements work better when there is a mandatory 2/3 votes and a quorum is defined by percentage of members as well. Things can go south quickly by majority rule. Moreover, I think that when there is a 2/3 vote required with a quorum on all issues, it gives more gravity to the vote and people tend to pay attention to even small issues with greater eye for detail;
- Make sure that you have someone that is diligent that is keeping records of all business as all as the minutes of all official meetings...that is very important for a number of reasons...to that end, I like having a defined protocol for review of all records wherein a request must be made and those records must be made available within 48 hours of the request...again, this cuts out funny business and places a burden on proper record keeping and being open among the members.
Otherwise, this looks really good and I would have no problem with a client signing it. It is fair and detailed enough to be effective without being so detailed that it cripples movement.
Let me know if you have any other questions or concerns. Please also rate my answer positively (three or more stars) so that I can receive credit for my work.
Best wishes going forward!