You have a right to your share of the proceeds from the business
, but your security is only as good as the trustworthiness of the other members and of the controlling member. Thus, as a member if you believe that the other members are breaching their fiduciary duty to you, your options are limited to taking the buyout or suing the other members for breach of fiduciary duty to you. As far as making a decision on taking the buyout, you have to weigh what they are offering against the cost to you to litigate their breach of fiduciary duty and what you can gain from that litigation.
As a member of the LLC you have a legal right to inspect all of the LLC and partnership records and financial accounts and you should do so to assist you in making your decision.
I hope you found my answer helpful, please click on the GREEN ACCEPT button above for my answer. This is necessary for me to be paid for my work and so that I can get credit for assisting you. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated!
If you have additional questions, please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.
Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.
There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.
You can always request me through my profile at http://www.justanswer.com/profile.aspx?PF=10285032&FID=39 or beginning your question with “For PaulMJD…”