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Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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I am a partner in a 3 person PLLC with Billings of 900,000

Customer Question

I am a partner in a 3 person PLLC with Billings of 900,000 and a profit of $250,000 in 2016. Is it ethical or legal for 2 of the partners to close the business and reform as a different firm in order to separate from the third partner?
JA: What state are you in? It matters because laws vary by location.
Customer: Arkansas
JA: Has anything been filed or reported?
Customer: Just a take it or leave it letter from our corporate attorney on behalf of the 2 partners.
JA: Anything else you want the lawyer to know before I connect you?
Customer: One item is that we have an operating agreement signed by three partners that refers to the buy-sell which is not signed.
Submitted: 5 months ago.
Category: Legal
Expert:  DrakeLAW replied 5 months ago.

Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.

Expert:  DrakeLAW replied 5 months ago.

Is it the operating agreement that is not signed or a buy-sell that is not signed?