Legal Question in Business Law in Connecticut
Does an LLC member violate specific duties to their co-member by locking them out of company information and accounts?
1 Answer from Attorneys
In general, preventing members access to company information is a serious matter. However, the answer in your case would depend, in part, on the operating agreement and the rights that are granted to the various members in it, the type of information access to which is being restricted, whether such a restriction affects a member's ability to file taxes or make other governmental filings, whether it prejudices a member in an unreasonable way, whether it violates a duty of fair dealings between the members that may exist etc.
Not addressing this in a timely and proper manner may create irreparable harm, so I suggest that you contact an attorney who would at least would be able to review the operating agreement and weigh the facts.
Feel free to contact my office at your earliest convenience.
Roman R. Fichman, Esq.
www.TheLegalist.com │ @TheLegalist
email: Info (@) TheLegalist (dot) com
t e l : 2 1 2 -- 3 3 7 -- 9 8 3 7
admitted in New York and Connecticut
Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.
Related Questions & Answers
-
The two people I sold my business to have stopped paying me..what do I do? One... Asked 6/23/11, 10:26 am in United States Connecticut Business Law
-
Can an employer implement a point system for sick days and tardiness? Asked 6/05/11, 10:07 pm in United States Connecticut Business Law