QUESTION
LLC papers w/no operating agreement filed in 2013. 2 managers and one member. How to get rid of one manager?
Asked on Apr 10th, 2015 on Business Law - Texas
More details to this question:
One manager failed to give initial capital contribution listed in papers. Not following job description in paperwork. Need to get rid of manager and other manager and member continue LLC.
1 ANSWER
You need to consult an attorney. If there is no operating agreement then the Texas Statutes would govern, but to properly advise you it will really depend upon more facts than you provided. For Example, what are the percentage ownerships? What document defines the ownership? Just because someone is a manager it does not automatically make them a member. Usually members own the business and they get to decide who the Manager will be. Good luck!
Answered on Apr 22nd, 2015 at 10:15 AM