QUESTION
How will I get my investment back after I withdraw from the LLC?
Asked on Jul 29th, 2018 on Business Law - Virginia
More details to this question:
How will I get my investment back after I withdraw from the LLC? The other 2 members of the LLC agreed verbally that I can withdraw from being part of the LLC. We do not have any operating agreement. I have asked them on how will I get my investment back but they said it not their priority right now. What do I need to do get my investment back? They also wanted me to have a Separation Agreement. Please advise. Thank you.
1 ANSWER
By its nature, there is no guarantee that an investment will succeed; you can lose your money. Your fellow members are under no legal obligation to return your investment to you. On the other hand you are under no legal obligation to withdrew from the llc, and you have certain rights as a member. You can choose to remain a member until and unless the other members buy you out at an acceptable price.
Answered on Jul 30th, 2018 at 11:07 AM