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Category: Business Law
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There are three partners that opened a resturant and shares

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There are three partners that opened a resturant and shares are divided into 33/3. Two partners have been using their own personal funds to back this restaurant. However, the remaining partner never contributed his 33/3 and now wants to remove the two partners names off of the LLC. The third partner verbally stated that he would be contributing his 33/3 and would contribute at a later date. This partner never contributed his share. Can this parnter who did not contribute his share remove the other two partners names from the LLC?
Submitted: 7 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 7 years ago.
It cannot be done unless the operating agreement permits or all members consent.
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