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socrateaser
socrateaser, Attorney
Category: Business Law
Satisfied Customers: 38560
Experience:  Retired (mostly)
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I am the partner in a business. I received my membership

Customer Question

I am the partner in a business. I received my membership interest in the company through "sweat equity". Can my interest be reabsorbed by the company without paying me if I choose to leave.
Submitted: 1 year ago.
Category: Business Law
Customer: replied 1 year ago.
The business is an LLC in PA.
Expert:  socrateaser replied 1 year ago.

Hello,

Assuming that your interest is recorded on the LLC's/partnership's books as a definite and certain dollar value, then your interest cannot be forfeit, because that would be a misappropriation/theft of your property.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer -- otherwise, the website retains your entire payment, and I receive nothing for my efforts in your behalf.

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Expert:  socrateaser replied 1 year ago.

Hello again,

I see that you have reviewed my answer, but that you have not provided a rating. Do you need any further clarification concerning my answer, or is everything satisfactory?

If you need further clarification, concerning this matter, please feel free to ask. If not, I would greatly appreciate a positive feedback rating for my answer -- otherwise the website retains your entire payment, and I receive nothing for my efforts in your behalf.
Thanks again for using Justanswer!