QUESTION
My two business partners for an LLC went behind my back and locked me out of all our online accounts. Facebook, paypal, email and our online store.
Asked on Jan 31st, 2012 on Business Law - Massachusetts
More details to this question:
I still own 33% of the company (we split it into equal shares). What am I entitled to legally and what leverage do I have to get it?
I understand I am entitled to 33% if they continue to lock me out and are refusing to pay me for my share- what are the legal repercussions?
I have no desire to remain partners nor do I want to be liable for their foolish behavior.
For example, one of our disputes was regarding my partner not making LLC insurance a priority. We have none, which I have been insisting we make a priority. Now I don''t have access to our documents (they locked me out of our fileshare) or even my financial info/receipts for tax purposes.
1 ANSWER
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This is a difficult situation. In the absence of an agreement to the contrary, minority members of an LLC have no right to access to the company's business property or records. You need to consult with an attorney regarding the specific facts of this situation.
Answered on Jan 31st, 2012 at 5:41 PM