It is hard to answer this without looking at the operating agreement.
How many members are there?
what percentage of ownership did you have?
what was the purpose of the LLC?
The way an LLC works is that it is an investment. If you put money into the LLC it can appreciate in value and then it can be sold and you make money. Or it is a profitable business and it pays out distributions. But it can also go down in value, it can also need money to keep going. Depending on the operating agreement members may have to pay if there is a cash call by the managing member. But if you don't pay the cash call that does not mean that your membership interest has no value. It may not be what you put in originally but you should be able to sell your membership interest back to the company or to other investors. Again, these can all be restricted by the operating agreement so you need to carefully read the operating agreement.
Marty Burbank, JD, LLM
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