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Richard, Attorney
Category: Business Law
Satisfied Customers: 53698
Experience:  32 years of experience practicing law and a businessman.
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I am a minority member of an llc (12.5%). The majority members

Customer Question

I am a minority member of an llc (12.5%). The majority members want to buy me out due to disputes we have had over the direction of the company . They have made an offer and said that if i dont accept it they will vote me out as a member and stop paying me a salary. I would still maintain my 12.5% interest but would effectively be fired. Without seeing our operating agreement, does this sound within the realm of what they can do?
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard replied 5 years ago.

Good evening. If your Operating Agreement is typical of most, a majority of the ownership can vote to make most decisions, which would include terminating your employment. They cannot take your interest, but they can terminate you unless you either have an employment agreement or the Operating Agreement provides you some specific protection.



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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

Richard and other Business Law Specialists are ready to help you
Customer: replied 5 years ago.
Thank you, XXXXX XXXXX what I thought.
Expert:  Richard replied 5 years ago.

You're welcome! You take care!

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