Legal Question in Business Law in Georgia

small business

my business partner and i have opened a consulting and medicall billing company. She furnished more money than myself. she is the president and i am the vice president. we share the expenses until the business makes money. she opened up a business bank account. i was not included. should that happen?


Asked on 4/16/07, 9:43 am

2 Answers from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: small business

The answer depends on what the structure of the business is, the company documentation, etc. You should have documents and contracts in place that determine each principal's rights and duties. It is not uncommon for an officer of a company to set up business accounts.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

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Answered on 4/16/07, 9:54 am
Robert Thompson J. Robert Thompson Attorney

Re: small business

Part of the answer depends on what you mean by "company". If it is a corporation, this could not be done without your consent. If it is an LLC or a partnership, with a written organization document (an agreement between the two of you, or a document filed with the Secretary of State), it would depend on what the agreement said.

Whatever it says, she is under an obligation to manage the account for your mutual benefit, and can be sued if she doesn't. For your own protection, demand to be added to the account. If she refuses, consult a lawyer. Even if she agrees, keep a close watch in the future.

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Answered on 4/16/07, 12:00 pm


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