Legal Question in Business Law in Pennsylvania

LLC partner's rights

I am the sole member of an llc. Two associates were of mine helped to run my business but were not members, rather indepependent contractors. I allowed them some access to the banking for my large payroll and for convenience. One of them stole a certificate from my records so he can try to claim 50% ownership. After doing that he removed all the money from the llc bank account. Question - what documents must he show to Prove llc ownership Legally and secondly, even if he is considered 50% owner can he ever legally take all of the money without my permission? In short what rights does one member of an llc have over the other member if there are two? Thank You!


Asked on 2/22/05, 7:39 am

2 Answers from Attorneys
Marc V. Taiani AAAL - Allegheny Attorneys At Law

Re: LLC partner's rights

This is a Criminal Act, one that may garner felony counts. You need to immediately contact police if this individual was not a member authorized to remove said cash and had no reason to it. Furthermore, you also have a civil action against this individual.

My office also offers flat rate pricing and free consultations, for additional information please visit my firm's website at www.AlleghenyAttorneys.com or by calling my office at 412.731.0865.

Sincerely,

Marc V. Taiani, Esquire

AAAL - Allegheny Attorneys At Law

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Answered on 2/23/05, 9:13 am
Mark Johns Mark Johns, Esquire

Re: LLC partner's rights

You need to immediately go to the police. If the amounts are large enough he is facing jail time for grand theft. The key is proving he took the certificate to falsely establish ownership. Depending on exactly what authorization you gave him as to the bank accounts will determine wether or not the bank has civil liability for th money. I offer free consultations.

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Answered on 2/22/05, 8:16 am


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