Legal Question in Business Law in Texas

I formed an llc in my wifes name. We had an outside investor to raise capitol and now hes trying to take over the business although it is in my wifes name. Who has control over assets and cashflow? Who contols the business?


Asked on 2/09/10, 11:18 am

1 Answer from Attorneys
Darrel Behring Darrel D. Behring, PC

Who is named in the member agreement for the LLC? You need to look at the papers forming the LLC to see who the members are and what interests are owned by whom. Were any loan agreements made and documented? If so, have these loan agreements been defaulted on? Without a complete review of the transaction and papers supporting it, your question cannot be answered.

Darrel

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Answered on 2/14/10, 6:46 pm


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