Legal Question in Business Law in California
Limited Liability Company
My three partners and I formed a LLC for our retail clothing business. I want to open an other store in another county (25 miles away). My parnters claim it is against the law for me to go outside the original LLC and open a similar business. They have voted my out of all operations right to store. We have no business operating agreement. What are my rights? Can I sell my interest in the store, they do not want to buy it, to an outside person and then open my own store??
1 Answer from Attorneys
Re: Limited Liability Company
We have to run a conflict of interest check to make sure your partners are not our clients before we give you legal advice. In absence of an operating agreement, the code will govern your relation with your partners. In general your objectives should be achievable. Please contact me Monday to discuss this case in more detail. I would need the names of the parties.
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