Private Membership Agreement

This Private Membership Agreement ("Agreement") establishes the terms under which Members voluntarily participate in the Liverights Trust Private Member Association ("PMA" or "Trust"). This is a private agreement between consenting members and is not a public offering of any kind.

The Trust operates as a private custodial arrangement. No public banking or financial services are offered. All contributions are held under custodial/trust terms within the framework of this private membership.

By becoming a member, you acknowledge that the PMA only tracks instructions and that all value exchanges are private assignments between members conducted under this agreement.

Members voluntarily contribute value to their ledger accounts within the Trust. These contributions are:

• Held under custodial/trust terms per this Agreement
• Recorded as ledger entries (credit entries for value received)
• Subject to the member's instructions for assignment or distribution
• Not deposits in the public banking sense

Each contribution generates an acknowledgment that may be evidenced by a Trust Receipt or Certificate of Contribution available through the member portal.

Members may issue Ledger Transfer Instructions to reassign value between accounts within the Trust. Transfer instructions include:

• Internal Transfers: Movement of value between a member's own ledger accounts
• Member-to-Member Assignments: Private assignment of value from one member to another, requiring authorized signature and timestamp
• Scheduled Instructions: Recurring transfer instructions executed at specified intervals (weekly, biweekly, monthly)

All transfer instructions are recorded in the private accounting ledger with full audit trail including member identification, amount, authorized signature, and timestamp.

A Private Assignment of Value ("Assignment Order") is the mechanism by which one member directs the Trust to reassign value from their ledger account to another member's ledger account. Each Assignment Order requires:

• Identification of the assigning member (Member ID)
• Identification of the receiving member (Member ID)
• The specific amount to be assigned
• An authorized signature (typed or electronic)
• An immutable timestamp of authorization
• A description of the assignment purpose

Assignment Orders are final upon execution and are documented with a downloadable Assignment Order PDF for both parties' records.

An Equity Reallocation Entry is a ledger adjustment that redistributes value within the Trust's private framework. This may occur when:

• Members agree to restructure family trust allocations
• Administrative corrections are required to ledger entries
• Dispute resolution outcomes require value reassignment
• Trust governance decisions necessitate rebalancing

All Equity Reallocation Entries are categorized as "adjustment_entry" in the ledger and are subject to full audit trail documentation.

Members may request distributions of value from their ledger accounts. Distributions represent the return of contributed value to the member and are subject to:

• Available balance verification (excluding reserved balances)
• Processing via the member's selected method (ACH, wire, or check)
• Audit trail documentation
• Any applicable service fees as outlined in the fee schedule

All disputes between members shall be resolved internally through the Trust's dispute resolution process:

1. Filing: Either party files a dispute with detailed description and desired resolution
2. Review: The Arbitration Panel reviews the dispute per this Agreement
3. Mediation: Parties may be invited to present their positions
4. Resolution: The Panel issues a binding resolution per the governance rules

Members agree that all disputes shall be handled through this internal arbitration process. The Arbitration Panel consists of appointed members (Chair, Members, Secretary) who serve the Trust's governance interests.

By maintaining membership, each member agrees to:

• Abide by the terms of this Private Membership Agreement
• Use PMA-compliant language in all official communications
• Respect the private nature of all member transactions
• Submit to internal dispute resolution for all disagreements
• Maintain accurate information in their member profile
• Not represent the Trust as a public financial institution
• Acknowledge that contributions are voluntary and held under custodial terms