Legal Question in Business Law in Arizona
I am a 45% owner of a business that I manage. If I should give my resignation with a period of time slotted before I depart and my partner accepts but wishes for me to leave immediately, is he obligated to pay me for the remaining time I stated in my resignation?
2 Answers from Attorneys
Possibly. There is not enough information in your question to properly answer it. Is the business a partnership, LLC? What is the history of how you were being paid. What were you being paid? Wages or distributions? And other questions.
The general answer is that you may have a claim depending on the answers to the above questions and others, but my recommendation is that you meet with an attorney to discuss what your rights are BEFORE you send in your resignation.
Greg Poulos
Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship
This depends on several things, including the provisions in the Operating Agreement and other documents and communications between you and the other member from the LLC. I am concerned with the other rights you have as an owner being compromised, and not just your remaing pay due to you. Unless you handle this resignation thoughtfully and with advice, you may lose rights you take for granted.
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