Legal Question in Business Law in California
Can a company member (CA LLC) who has embezzled still be reported to the DA after the company has filed for dissolution?
Asked on 2/02/11, 2:51 pm
3 Answers from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Absolutely! Filing for dissolution does not make the LLC disappear or absolve anyone of crimes against the company. Indeed, filing for dissolution merely begins the process of winding up the LLC's affairs, and thus is a time when it (the LLC) will be converting assets into cash, paying off the bills, and otherwise cleaning house in anticipation of going out of business. The LLC will be especially vigilant at this phase to nab and try suspected wrongdoers.
Answered on 2/08/11, 9:38 pm
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