Legal Question in Business Law in Connecticut

I own 42% of a CT Company which is an LLC. I left the company about 2 years ago and they refuse to give me any financial information...what rights do I have as a 42% owner, my partner owns 42% too and there is a silent partner who owns 16%...also I thought when a member partner leaves an LLC the company is suppose to instantly dissolve...Thank you for your help


Asked on 2/01/11, 9:36 am

2 Answers from Attorneys

Roman Fichman Esq. Law Practice of Roman Fichman Esq.

Unlike partnerships, LLCs do not dissolve automatically when a member leaves.

To resolve your situation, the first document to look at is the operating agreement of the Company which should address an event of dissociation and the consequences. If the Operating Agreement is silent on this point, then further examination needs to be made as far as any votes that the other members conducted, any notices of reorganization, arrangement, composition, readjustment, liquidation or dissolution that were given to you, the manner in which the taxes of the LLC were filed etc.

If you are indeed still a member of the LLC, then under section 34-144 the LLC has to provide you with true and full information of all things affecting the members which includes reasonable access to financial information.

You need to consult with an attorney admitted to practice in Connecticut so that a proper inquiry into your status can be made coupled with a demand for company books and records.

For additional infomation, deel free to contact my office at your earliest convenience.


Roman R. Fichman, Esq.

www.TheLegalist.com │ @TheLegalist

email: Info (at) TheLegalist (dot) com

t e l : 2 1 2 -- 3 3 7 -- 9 8 3 7

admitted in New York and Connecticut


Disclaimer: This posting has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice. You should always consult an attorney admitted to practice in your jurisdiction for specific advice.

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Answered on 2/08/11, 9:30 pm
Linda Subbloie Linda A. Subbloie, Esq.

Why don't you just file suit.

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Answered on 2/09/11, 4:25 pm


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