Legal Question in Business Law in Arizona

LLC completion

What are all the steps needed to make an LLC legally binding? All partners have not signed the Operating Agreement and I want to re-negotiate the shareholdings that have been distributed between two as opposed to three members at 33.33. Primarily due to one member being a month late in his stated capital contribution as stated in the operating agreement itself.


Asked on 9/13/07, 2:19 am

2 Answers from Attorneys
Gerd Zimmermann zimmermann nielsen & colleagues

Re: LLC completion

When has the third member paid, already paid? If paid and the payment is accepted there is no room for negoatiation. If paid the operating agreement should tell what to do

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Answered on 9/13/07, 2:52 am
James Jenkins Jenkins Law Center PLC

Re: LLC completion

You already have one member not fulfilling his obligation, yet you are finalizing the organization without legal counsel? That seems unwise. Consult with an attorney and get it done correctly to protect your business and rights. We cannot give advice on your situation without all the facts, and without a look at the documents.

Best regards,

James D. Jenkins

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Answered on 9/13/07, 11:13 am


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