UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 12, 2011
LAKE AREA CORN PROCESSORS, LLC | ||
(Exact name of registrant as specified in its charter) | ||
South Dakota | 000-50254 | 46-0460790 |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
46269 SD Highway 34 P.O. Box 100 Wentworth, South Dakota 57075 | ||
(Address of principal executive offices) | ||
(605) 483-2676 | ||
(Registrant's telephone number, including area code) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o | Written communicaitons pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 3.03 Material Modification to Rights of Security Holders.
On July 12, 2011, our Board of Managers voted to amend our Third Amended and Restated Operating Agreement by removing the term limits applicable to our Board of Managers. At our 2011 Annual Member Meeting, our members provided an advisory vote in favor of removing the term limits for our managers. Prior to the amendment, our managers could serve no more than three consecutive three-year terms on the Board of Managers. Our Third Amended and Restated Operating Agreement, as amended, governs the rights and responsibilities of each of our membership units.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LAKE AREA CORN PROCESSORS, LLC | |||
Date: | July 15, 2011 | /s/ Robbi Buchholtz | |
Robbi Buchholtz, Chief Financial Officer | |||