Legal Question in Business Law in Nevada
Force Out Of Business
I have a LLC in Neveda. The two other owners are trying to oust me out of the company stating that I have not sold anything. One owner came up with 300K capital the other has sold 250K in sales. I am running everything on the backside accounting, technical, support, etc. My question, in a LLC can members just kick you out and take your percentage? I need a little help please...I am on a time line. Thank you for any response. matt
2 Answers from Attorneys
Re: Force Out Of Business
Good morning,Matt:
The Nevada Legislature has developed a great basic research site covering all of the statutes and administrative regulations, including references to Nevada Supreme Court decisions
related thereto, available at:
http://www.leg.state.nv.us/
You may want to look into the chapters on LIMITED-LIABILITY COMPANIES on this site. In this regard, I invite your attention to NRS Chapter 86, which is found at:
http://www.leg.state.nv.us/NRS/NRS-086.html
There may be other laws affecting your ability to resolve business law problem, which is necessarily beyond the scope of this reply.
I charge $200.00 per hour for consultation, document review, case analysis, advice, suggesting and recommending alternatives, legal drafting, telephone calls, legal research and prosecuting and defending business litigation when a client hires me.
The Nevada State Bar provides this general information online regarding lawyer fees:
http://www.nvbar.org/memberServices/Brochure_LawyersChrg.php3
I hope this is of assistance to you.
Re: Force Out Of Business
I'm a Minnesota lawyer, and you may need a Nevada lawyer if that's the state where the LLC is organized.
LLCs are usually governed by an operating agreement. You need to review that agreement and see what it says about expelling a member. My expectation would be that they may expell you, but then they would owe you for the value of your partnership share.
Good luck.
This response does is for general information purposes only and does not create an attorney-client relationship. You are advised to consult the attorney of your choice concerning the details of your case.
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