Legal Question in Business Law in Virginia
Operating agreement states that member is obligated to contribute a certain financial contribution but has not contributed any amount, is member still legally considered a member or is membership legally null & void?
Asked on 3/08/17, 9:31 pm
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Operating agreement with respect to what, a business organized as am LLC?
Furthermore, if the above is correct, all such operating agreements for an
LLC should be reduced to writing, detailing the rights and obligations of
the membership.
Answered on 3/09/17, 10:00 am
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