Legal Question in Business Law in Missouri
Hello,
In Missouri, what is required in order to sell and transfer 100% ownership as member/manager of an llc? Eg: Bob wants to sell his company to Grant. What must they do to make it legal?
Thank you.
Asked on 3/28/10, 4:11 pm
1 Answer from Attorneys
Michael R. Nack
Michael R. Nack, Attorney at Law
I would suggest that the seller and the buyer hire their own respective attorneys. Depending upon the organization of the LLC and the operating agreement, I presume that Bob has the legal right to sell the business. But, a sales contract is a must, and there will be docments to file with the Secretary of State.
Answered on 4/02/10, 7:33 pm
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