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Ask Asad Rahman Your Own Question
Asad Rahman
Asad Rahman, Attorney
Category: Business Law
Satisfied Customers: 2125
Experience:  Practicing Attorney with 10 years experience
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I am listed as a manager on a LLC and so is my husband. He

Customer Question

I am listed as a manager on a LLC and so is my husband. He is listed as 100% owner. He sold the company in the middle of a divorce. It is listed that the managers manage the LLC can he do this?
Submitted: 1 year ago.
Category: Business Law
Customer: replied 1 year ago.
There are no members listed, only the two of us as managers and he is the owner
Expert:  Asad Rahman replied 1 year ago.
Do you have any sort of operating agreement? I would need to look at that to answer your question. Typically a manager run LLC can be sold if the members or in this case the sole owner agrees to sell it.
Customer: replied 1 year ago.
I have attached the LLC papers
Expert:  Asad Rahman replied 1 year ago.
Unfortunately your LLC allows for him to sell without Managers' consent as that is a decision that rests with the Members.
Customer: replied 1 year ago.
not the answer I was looking for :( thank you
Expert:  Asad Rahman replied 1 year ago.
The hardest partnof my job is amswering when it is not in the customer's interest but I want to give you the best and most accurate info and not give false hope. A positive rating is appreciated.