Legal Question in Business Law in Maryland
40% owner in Maryland LLC. Want resign and take 40% of assets. Can this be done? Must I wait 6 months? nothing in operating agreement.
Asked on 3/02/11, 4:08 pm
1 Answer from Attorneys
Phillip M. Cook
Cook Legal Services, LLC
Probably can't take 40% of assets. Instead, you can "sell" your 40% of LLC interests (or units or whatever they are called in your case) to the other members of the LLC. Hire a lawyer to guide you.
Best of luck.
Answered on 3/03/11, 7:28 am
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