Legal Question in Business Law in New Mexico
Investment in a Limited Liability Company
There is a Limited Liability Company in New
Mexico that received a $10,000 private investment.
The investor has not yet received a certificate of
ownership or any documentation showing that he
is an owner in the company. The investment was
made in Nov 2000. It is now the end of Feb 2001.
Are there legal grounds for the investor to demand
his money back.
1 Answer from Attorneys
Re: Investment in a Limited Liability Company
The investor is surely entitled to documentary evidence of his investment, whatever form that may take as governed by the Operating Agreement.
It is not clear that he is entitled to the return of his investment because evidence of it has not yet been furnished; the return will depend upon the terms and conditions of the investment in the first place.
The Public Regulatory Commission in Santa Fe is the place to take a dispute involving corporate documentation or allegations of fraud or misrepresentation in investments.
I recommend a demand for documentation be made by certified mail with a deadline for compliance and a call to the PRC or the Attorney General's office if that doesn't produce immediate results.
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