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I formed a 2-member LLC approx. 10 years ago. I own 51% of
I formed a 2-member LLC approx. 10 years ago. I own 51% of the shares and the second member owns 49%. The LLC currently has outstanding debt of $500,000. There are problems between me and the minority… read more
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I rushed into forming an LLC which has had absolutely no
I rushed into forming an LLC which has had absolutely no activity. Not sure that it ever will. It was formed to get financing for fix and flip and not sure now that I want to do that. I have done abso… read more
LegalGems
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Regarding the operating agreement where we are going to
Hi. Its me again regarding the operating agreement where we are going to remove a member. A few questions.yesterday you said to1. notify the members 2. Vote to remove the member 3. amend the operating… read more
Lori
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My wife and I have an interest in an LLC that will have to
My wife and I have an interest in an LLC that will have to close its doors we share with a partner. Sales are just not happening and I've just been ordered to move with the military, so I'm terminatin… read more
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I'm dissolving my LLC (and selling) I have some small
I'm dissolving my LLC (and selling) I have some small ($5,000) debt by court judgment (no liens). What happens here, do I owe it anymore? The new buyers have another LLC.… read more
KLAW
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Richard,Hope you are well. You've been so informative,
Hi Richard,Hope you are well. You've been so informative, and easy to work with in the past. So I'm sending you another one.One of our consulting clients is an LLC, approx 3 equal partners. It's a you… read more
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2 LLCs, 1 and 2 were formed to complete a real estate deal.Both
2 LLCs, 1 and 2 were formed to complete a real estate deal. Both are broke and the only asset is a judgment in their favor. LLC2 is dissolved. Members of both LLCs made loans to their respective LLC t… read more
socrateaser
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2 LLCs together sue a 3rd LLC that was involved in a real estate
2 LLCs together sue a 3rd LLC that was involved in a real estate deal. We win and the judgement is worded: "A money judgement in favor of "LLC1" and "LLC2" in the amount of $xxx" No separate amounts a… read more
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Urgent Question - Bonus will be paid. An LLC has 8 members
Urgent Question - Bonus will be paid. An LLC has 8 members and they won a judgment for $250K. They are insolvent with the only asset being the judgment. They have about $1000 in unpaid bills and $3400… read more
Kendell Kelly, Esq
Kendell Kelly, Esq
Kendell R Kelly, Esq
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I have an S corporation and have 51%. My partner in business
I have an S corporation and have 51%. My partner in business has 49%. I am a RE Broker, he is an agent. The partnership is not working out. Do I have the power to remove him from the corporation?… read more
Kathie Russell
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I own 45% in an LLC and my sister 10%. The other member of
I own 45% in an LLC and my sister 10%. The other member of the LLC owns 45%. The company has a loan,personally guaranteed jointly and severaly by each member. There is no income at all and no cooperat… read more
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We have been managing a member managed LLC. The group managing
We have been managing a member managed LLC. The group managing are the founders and they are majority shareholders. Investors who are members have demanded that we stop operating. can they? We have no… read more
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Are there laws that govern how an LLC must be dissolved or
Are there laws that govern how an LLC must be dissolved or how withdrawals or terminations must be handled if there is not an operating agreement? If you withdraw from an LLC, do you walk away from th… read more
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BACKGROUND of QUESTION: We have a LLC... their were three original managing agents of the LLC... one was voted off of the LLC when it was discovered he paid himself monies from the LLC without our app… read more
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I want to dissolve my LLC in Indiana. currently it is a three
I want to dissolve my LLC in Indiana. currently it is a three member LLC. I am under the understanding it takes a two-thirds vote in Indiana. Myself and one other are in agreement... Question is this … read more
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HI I have a corp question.. we formed a corp llc with 4 equal
HI I have a corp question.. we formed a corp llc with 4 equal members, no managing partner or corporate contract. We were advised not to form a corp with out a clearly defined leader. So now we have c… read more
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I am a member of an LLC and other members have elected to disable
I am a member of an LLC and other members have elected to disable my access to viewing any financial information about our business. Is it legal to withhold information from other members of an LLC? A… read more
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I am currently an equal partner in a physical therapy owned ...
I am currently an equal partner in a physical therapy owned practice in NJ. Recently 4 of 6 partners revealed that they were wishing to leave the practice. My other partner and I stated that we did no… read more
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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