Legal Question in Employment Law in Georgia
Is there legal precedent for a small business, S Corp or LLC, to be placed in trust to protect the business and its employees, when one of the partners may be deemed criminal, psychotic and/or mentally ill? This partner can be proven to have committed fraud, embezzlement, employee harassment, theft, and other crimes. The bottom line is how to remove this person from the business without endangering the business or the employees losing their jobs.
1 Answer from Attorneys
If a principle of a company has become disabled, look to the company documents (operating agreement, shareholders agreement, etc.) to determine what happens. Otherwise, negotiate with the principle or their guardian to buy them out. If not, the courts will most likely order a judicial dissolution.
If you would like to discuss any issues further, please feel free to contact my office. The link to 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.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
