Winthrop
Real Estate LLC (the "Company")
is a South Carolina limited liability
company organized
under the laws of the State of South Carolina on
November 19, 2003. The Company is
organized in accordance with and pursuant to the South Carolina
Uniform Limited Liability Company Act of 1996, by the Company and
Winthrop University Real Estate Foundation (the "Member").
The purpose of Winthrop Real Estate LLC
is to develop, own, manage, lease
and sell real property, and to engage in any lawful act or
activity for which Winthrop Real Estate LLC
may be organized. Winthrop Real
Estate exists for the benefit of Winthrop University.
The direction and
management
of the Company are
the responsibility of the Company's Chief Executive Officer, Chief
Operational Officer, and the Vice President for Winthrop
University Real Estate Foundation. The Officers are
appointed by the Member and have the right, power and
authority to exercise all powers and perform all acts and things
that may be exercised or done by the Company
which are in furtherance of the Member's exempt purposes as set
forth in the Member's Articles of Incorporation, Bylaws and other
governing documents.
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