Legal Question in Business Law in Delaware

Goodday everyone

I own 40% of the shares of an LLC and I do not want significant changes to the company or company agreement without my consent. I want to add a clause in the company agreement that states that no changes can be made to the company agreement or the company without a 70% majority. If the agreement is signed, will this clause protect me in the case of a dispute or do all companies subscribe to the 51% majority rule


Asked on 10/16/12, 8:48 pm

1 Answer from Attorneys

Your solution to the problem you raised is quire reasonable. Be aware that there are a number of other provisions contained in an operating that can make a significant difference such as right of first refusal, right to withdraw, distribution of funds etc. Though a super majority.is important tit alone is not enough.

Feel free to contact me if you have any additional questions.

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Answered on 10/16/12, 10:03 pm


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