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Submitted: 3 months ago.Category: Business Law
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Customer reply replied 3 months ago
I had a question all typed and JustAnswer lost it so I made them do a Test before I typed it again. We have an LLC that was formed in 2010 or so. It is a Nevada LLC, operating as a foreign corporation in Florida. The original ownership percentages were assigned back then based on what everyone's investment and/or expected contribution was to be. It has turned out differently and the 2 owners who had the largest ownership (over 60% at the beginning) want to re-allocate the percentages to reflect what has taken place - to be fair. They have put in all of the additional monies that were required and done all of the work on the project. I do not see anything in the Operating Agreement that addresses this situation. Now we have "bigger money" that wants to come in and form a new company, giving percentages to everyone based on the recommendation of the majority owners. Do we sell the company to them, or do some other sort of transaction? We are not intending to take anyone's money but it needs to be more fair - we are pretty sure the others will go along with it, but I think if the majority wants to do the transaction they do not have a choice. It seems to be different in an LLC than a corporation where the stock can be diluted, or can that also happen in an LLC? Ideally we would work this out in the LLC before merging it with another company - it looks better that way to the new company. What is the best way to accomplish what we are trying to do?
Answered in 22 hours by:
3/23/2018
Business Lawyer: Richard, Attorney replied 2 months ago
Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 56,887
Experience: 32 years of experience practicing law and a businessman.
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Hi there. I've been traveling on business this week and I don't want you to have to wait until the weekend for an answer to your question. Given this, I am going to opt out so another expert can timely provide you the information you seek. Take care.

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