Legal Question in Business Law in California
We have a company governed by an LLC agreement. If the operating agreement has no experation date is there a legal termenation of the contract since one was not provided? thankyou
3 Answers from Attorneys
No, but In California, your LLC's life may end at the death of a member or bankruptcy... check that in your Operating Agreement
Usually you provide for buyout rights, or for termination. If you did not, have an attorney see if you can agree.
Best,
Daniel Bakondi, Esq.
415-450-0424
The Law Office of Daniel Bakondi
870 Market Street, Suite 1161
San Francisco CA 94102
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