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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 118200
Experience:  Attorney experienced in commercial litigation.
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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: 2 years ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 2 years 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.