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Is it legal to do a drawdown or deduct someones ownership %

Customer Question
Is it legal to do...
Is it legal to do a drawdown or deduct someones ownership % bec he or she cant give time to help in the company
Submitted: 1 year ago.Category: Legal
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Answered in 6 minutes by:
11/29/2016
Lawyer: Asad Rahman, Lawyer replied 1 year ago
Asad Rahman
Asad Rahman, Lawyer
Category: Legal
Satisfied Customers: 2,305
Experience: Practicing Attorney with 10 years experience
Verified

Not usually. Your operating agreement or bylaws would indicate how you can buy out their interest.

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Lawyer: Asad Rahman, Lawyer replied 1 year ago

If you have any further questions just let me know, otherwise a positive rating of 5 stars would be greatly appreciated.

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Asad Rahman
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Experience: Practicing Attorney with 10 years experience

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