Lake Area Ethanol, LLC Class A Capital Units Certificate

Summary

This certificate represents ownership of Class A Capital Units in Lake Area Ethanol, LLC. The holder can transfer these units only according to the company's Operating Agreement, which restricts how units may be sold or transferred. Owners are also required to deliver corn annually to the company under a separate Corn Delivery Agreement. Copies of both agreements are available at the company's main office. Transfers must be properly endorsed and recorded on the company's books.

EX-4.1 3 a2055520zex-4_1.txt EXHIBIT 4.1 Exhibit 4.1 [FORM OF FACE OF CERTIFICATE] Organized Under the Laws of the State of South Dakota CLASS A CAPITAL UNITS A- LAKE AREA ETHANOL, LLC THIS CERTIFIES THAT___________________________________________ IS THE OWNER AND REGISTERED HOLDER OF______________________________________ CLASS A CAPITAL UNITS in Lake Area Ethanol, LLC TRANSFERABLE ONLY ON THE BOOKS OF THE LIMITED LIABILITY COMPANY BY THE HOLDER HEREOF IN PERSON OR BY DULY AUTHORIZED ATTORNEY UPON SURRENDER OF THIS CERTIFICATE PROPERLY ENDORSED. IN WITNESS WHEREOF, THE SAID LIMITED LIABILITY COMPANY HAS CAUSED THIS CERTIFICATE TO BE SIGNED BY ITS DULY AUTHORIZED OFFICERS THIS ___ DAY OF ____________________, 200__. _____________________ _________________ SECRETARY PRESIDENT [FORM OF REVERSE OF CERTIFICATE] The sale and transfer of the Capital Units represented by this Certificate are restricted by, and subject to, the provisions of the Operating Agreement of Lake Area Ethanol, LLC. The Operating Agreement provides, among other things, that no sale, assignment, transfer, gift, exchange or other disposition of these Capital Units is valid except as specifically provided for in the Operating Agreement. Copies of the Operating Agreement and instructions for transfer, sale or other disposition of these Capital Units are available for inspection at the Company's principal office. Any holder of the Class A Capital Units represented by this Certificate has an annual obligation to deliver corn to Lake Area Ethanol, LLC, under the terms of a Corn Delivery Agreement, a copy of which is available for inspection at the Company's principal office. FOR VALUE RECEIVED ________ HEREBY SELL, ASSIGN AND TRANSFER UNTO ______________ _______________________________________________________________________________, _____________ CAPITAL UNITS REPRESENTED BY THE WITHIN CERTIFICATE, AND DO HEREBY IRREVOCABLY CONSTITUTE AND APPOINT __________________________________________ ATTORNEY TO TRANSFER THE SAID CAPITAL UNITS ON THE BOOKS OF THE WITHIN NAMED LIMITED LIABILITY COMPANY WITH FULL POWER OF SUBSTITUTION IN THE PREMISES. DATED ____________________, 20_____ IN PRESENCE OF ___________________________________________________ NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THIS CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.