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Category: Business Law
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SUBJECT Small LLC medical business officed in a leased facility

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SUBJECT: Small LLC medical business officed in a leased facility and owned by two antagonistic owners, each owning 50% of business. PROBLEM: While one owner was on a extended vacation the other owner took the opportunity to make a change in the offical name of the business and some major and unnecessary internal restructural changes during his absence and without his knowledge. I was under the understanding that in a 50-50 partnership things of that magnitude could not be done without both owner's knowledge and agreement.   If true, what recourses do I have?
Submitted: 8 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 8 years ago.

If there is an operating agreement, how decisions are made would be governed by that document. If there is none, either party can make such decision but if done to the detriment of the other partner or the LLC as a while litigation may be necessary to undo it and the LLC as a final option can be dissolved.

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