QUESTION
What legal rights do I have as a business Owner?
Asked on Feb 01st, 2012 on Business Law - Michigan
More details to this question:
I''m in business with my brother inlaw ( Bar, LLC) since June of 2009. I stopped working in December of 2009 because the business relationship was not working. I told them they could run it since thats what they were doing anyway. As of now I have not made a cent after a lot of hard work and money. I need to resolve my situation.
1 ANSWER
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By "telling them they could run it," you may have abandoned your rights to participate in management. Your rights as a member of an LLC are determined by the operating agreement, or, if you do not have an operating agreement, by applicable state law. What does your operating agreement say about your right to withdraw?
Answered on Feb 04th, 2012 at 12:22 PM