Legal Question in Business Law in Texas
Dissolution of LLC
I am the 60% share holder of my company. The other shareholder has done some things in the short time we have been in business together to cause me to want to part ways. The company has no equity as of yet, and we are the only members. Do I have the right to dissolve the company?
Asked on 12/02/03, 8:25 am
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Dissolution of LLC
You would have to look to your Operating Agreement as to what can trigger dissolution. Or bailing out, for that matter.
It sounds as if you and the other shareholder were running the LLC as a general partnership. It isn't!
Answered on 12/02/03, 10:34 am
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