How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard - Bizlaw Your Own Question
Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10017
Experience:  30 years of corporate, litigation and international law
18695994
Type Your Business Law Question Here...
Richard - Bizlaw is online now
A new question is answered every 9 seconds

Can one person of a two person LLC incorporate the business

Customer Question

Can one person of a two person LLC incorporate the business without having the others permission? There is no operating agreement.
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 5 years ago.

bizlaw :

Why do you want to incorporate? What is the percentage ownership of the one wanting to incorporate and that of the other member? What is the disagreement between the two people?

Customer:

It is 50/50. One does all the work, the other takes money whenever without telling the other. It is a horrible working relationship between mother and daughter. I need help and have another party who would like to invest in the business and also work in the business. The problem is the mother will not give up her half even though she works another job in another state and doesnt manage the business at all.

Richard - Bizlaw and 3 other Business Law Specialists are ready to help you
Expert:  Richard - Bizlaw replied 5 years ago.

You cannot just incorporate the business on your own. The solution is to dissolve the business and reopen the business in your own name. This can be done by offering to buy your mother out of her interest. If you cannot do that and you cannot reach an agreement on how things are operated you can dissolve the business and restart it in your own name with your half of the assets.

Thank you for accepting the answer. If you have more questions let me know.