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 Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 111549
Experience:  Attorney experienced in commercial litigation.
10285032
Type Your Consumer Protection Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

In a LLC how shares are protected within partners. I will be

Customer Question

In a LLC how shares are protected within partners. I will be a passive partner, my friend is member and manager. He has his SSN on tax I'd of llc, so my question is just preparing op agreement tells us how much percent is owned by which member, but how
it is protected, can my partner change op agreement any time?? Without my presence??
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Once parties sign an operating agreement or membership agreement for an LLC, that is a binding contract. A binding contract cannot be unilaterally changed and requires consent of all of the signatories to the contract unless they have a clause in the agreement (which is not recommended) that the agreement can be changed by the managing member.
So, the other members to the operating agreement cannot change the agreement without consent of all parties once it is signed. That is how the rights of every member would be protected.