QUESTION
I own 49% of an LLC, can my partner who owns 51% force me out or take my shares?
Asked on Oct 02nd, 2014 on Corporate Law - Florida
More details to this question:
I was to be the partner who ran the business but it became to much and we had to hire others to take it over. I worked 7 days a week for 8 months and got burnt out. Now that i have stepped aside he will not allow me to work there anymore!
1 ANSWER
The answer depends on whether you have an operating agreement and, if so, what it says. If you don't, the statute provides for how decisions are made. Firing someone as an employee does not negate the ownership interest
Answered on Oct 05th, 2014 at 8:20 PM