Legal Question in Business Law in New York
LLC in New YOrk
I am a member of a 2 member LLC. The other member has not met the requirements of the operating agreement of paying their participating precentages. I have paid my participating percentages. This OA has been signed off since December 2006. Can I remove that member from the LLC? If so, how do I go about doing that?
2 Answers from Attorneys
Re: LLC in New YOrk
The Operating Agreement is very specific as to each member's obligations to company and any remedy from a violation of the agreement. Therefore, without looking at the specific language of the Operating Agreement I cannot properly give an answer to your question.
Mike.
Re: LLC in New YOrk
There are probably a few different options you have, some which may or may not be provided for within the OA itself. This area of law is our specialty; however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.
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