Legal Question in Business Law in New York

Generally speaking, if it's a corporation then the board of directors of the company would enact a resolution in connection with the CTO's promotion. If it's an LLC then the operating agreement may specify who can vote and how the vote is to be had. If the operating agreement is silent then a simple majority of the members is generally sufficient to enact a company resolution.

You've also raised the issue of having three offices, no employees and no payroll and though that would not effect the issue of the CTO's promotion, it may raise warning flags with agencies of New York State, especially if the company is a corporation.

I highly recommend that you "bite the bullet", so to speak, and consult with a business attorney. My rate for startups is significantly discounted and a review of possible issues as well as creating the proper "paper trail" in connection with the CTO's promotion should not be an expensive proposition.

Feel free to contact me directly.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

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