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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 24869
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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one of my business partners wants to retire from our LLC. The

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one of my business partners wants to retire from our LLC. The partnership describes this process as the remaining partners buying out her capital shares. The business is a very very low profit to no profit business in reality and in our financial books. Her capital share amounts to $14000. Are we obligated to adhere to the letters of incorporation/agreement?
Hi! My name is XXXXX XXXXX I'll be the attorney assisting you.

No, but then the alternative is dissolution if the retiring partner won't agree to anything less.

Will they agree to less than the buy-out agreement within the bylaws?
Customer: replied 2 years ago.

Ok. So, if she won't accept less than the buy-out agreement, then our choice is to dissolve the business.

This, actually, may be what happens anyways, as we're moving to a different business model.


I will leave a positive rating.

Thank you.

That's really your only options - buyout or dissolve.

If she won't take less - then dissolve.

Clearly, if the business can't support the buyout - then you would be giving them a "windfall".

I would wind-up and then dissolve - giving her nominal choices.

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