Legal Question in Business Law in Massachusetts
in a 3 way equal partnership llc in texas, with a "push-pull" agreement..can 2 of the partners "push-pull" together(same transaction) for half of the 3rd partners units each? or if not, "push-pull" simultaneously?
2 Answers from Attorneys
I am not a Texas attorney so I would have to check their statute. Also I have not seen the language in the LLC or its operating agreement as drafted, but absent a prohibition or a failure to define who the push-pull as the buyer is defined, the answer is probably yes.
But I would recommend you show the specific language to an attorney familiar with LLCs. A good attorney in MA could review the Texas LLC act or you should contact a Texas Attorney.
As a Franchise Attorney I say this. It's not possible to analyze your situation without a detailed examination of the specific language in your "push-pull" agreement. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
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