Legal Question in Business Law in New York

business

I am 50% share holder in a LLC .i have 2 other partner 25% each my friend is willing to buy my share for good price .but my partners don`t want him in the LLc .can they stop my sale


Asked on 11/30/08, 5:05 pm

3 Answers from Attorneys
Steve Brodsky Esq. CheapNewYorkLLC.com

Re: business

It depends what your LLC operating agreement says about this.

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Answered on 12/01/08, 7:34 am
Carlos Gonzalez Gonzalez Legal Associates PLLC

Re: business

This is subject to any agreements you may have, while generally there is no real limitation all is subject to shareholders agreements and/or the corprater charter, and any other such agreements... However, it is wholly legal for such restrictions to exist... If there are no written restrictions then you should have no legal barrier.

If there is further issue you may contact our office at 877.229.3394 and select to speak to me, carlos gonzalez

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Answered on 11/30/08, 5:39 pm
Warren Markowitz Warren R. Markowitz, Esq

Re: business

The right to dispose of ones interests in an LLC are normally spelled out in the Operating Agreement of the company. If the Agreement is silent on the matter then you have no legal barrier to disposing of your interests and the other partners/members will be bound by your decision.

If there are any questions as to the particulars, or if you need assistance in this matter, you may contact my office.

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Answered on 11/30/08, 8:51 pm


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