What does a co-ownership share actually entitle me to?
~32 days and up to ~3,200 miles per share per year (100 mi/day allowance; members hold 2–10 shares each), voting rights on material LLC decisions, and pro-rata participation in the LLC's assets at dissolution.
Usage
Each share entitles you to ~32 days and up to ~3,200 miles of vehicle usage per year (100 mi/day allowance), with the exact entitlement set per vehicle when the LLC is formed. Members hold two shares or more, usage scales linearly (5 shares ≈ 160 days; 10 shares ≈ 320 days, with the rest reserved for service and rental pool). Days are booked on a shared calendar with the other co-owners. Fair-use rules cap consecutive days during peak season.
Membership
You hold a registered LLC membership interest. The LLC is member-managed, you and your co-owners run it together. If the LLC eventually winds down (e.g., the group decides to sell the car and dissolve), the LLC's remaining assets are distributed pro-rata to members per the Operating Agreement.
Voting
Material decisions, selling the vehicle, performing modifications, replacing the vehicle, require a vote per the Operating Agreement (typically a 75% supermajority by member interest). Routine maintenance, scheduling, and operations are delegated to RYDA via the Management Services Agreement.
What it does not include
- Title to the vehicle (the LLC holds title; you hold a member interest in the LLC).
- Unilateral decision-making (you share authority with co-owners).
- Commercial use of the vehicle.
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