Legal Question in Business Law in Texas
Can a majority owner dictate how I sell my shares even if there is no operating agreement in LLC..t
He wants some. And person I sell to only a few shares
1 Answer from Attorneys
If there is no partnership agreement AND there is no agreement has been entered into concerning the sharing of equity/shares, then a company should rely on the state partnership or corporation act. For LLC's with more than one member the local/state laws generally resemble the Uniform Partnership Act. For more detail concerning how the UPA or Texas business law may apply to your situation, I would recommend having a consultation with an attorney who practices business law. Your situation may have nuances that might implicate one or more aspects of business law; therefore it is very difficult to give a proper answer without going into the specifics of your situation which would require a consultation.
Related Questions & Answers
-
In Texas, who is required to have professional liability insurance? Asked 3/09/13, 2:31 am in United States Texas Business Law
-
Can a dance studio close their waiting area/watching area from parents where their... Asked 3/04/13, 10:55 am in United States Texas Business Law
-
Hello, I am trying to setup an ternms an Conditions for a website that deals with... Asked 2/22/13, 3:59 pm in United States Texas Business Law
-
I sold a item on consignment and now I can't get in touch with the people to pay... Asked 2/11/13, 4:42 am in United States Texas Business Law