Texas Corporate Legal Questions

Whether you can work for your LLC while receiving Short-Term Disability (STD) from your primary employer depends on the specific terms of your STD policy. STD Policy: The key factor is the definition of "disability" within your STD policy. It might specify that you cannot be engaged in any work activity (including self-employment) while receiving benefits. Review your STD policy documents carefully. Look for the definition of disability and any clauses regarding work activity during the benefit period. Contact your HR department or the benefits provider. They can clarify the specific terms of your policy and answer your questions about working for your LLC while receiving STD. One alternative is that you can get the copy of your policy and hire our services to review it and go over it with you in a premium consultation to protect you and your job from potential abuse and violations. If you violate the terms of your STD policy by working for your LLC, your employer or the benefits provider might deny or terminate your benefits. You might also be required to repay any benefits received if it's determined you weren't eligible due to working for your LLC. This is why it's best to have a  lawyer review and evaluate your policies in a consultation. Consultations are cheaper and more affordable than to hire an attorney for a full case.  pen_spark... Read Answer

It is not clear what kind of business entity you are involved in from your facts.  However, when it comes to liabilities that you personally guaranteed at the inception of a business, it is highly unlikely that anybody is going to release you from those.  There are numerous other ways to approach this, none of which is likely to get the result that you are looking for... Read Answer

First of all you need to get your terminology straight.  Limited Partnerships have general and limited partners.  Limited Liability Companies can be structured to look like that but there is a Manager and there are members.  Im not sure exactly what you are doing but it sounds like you are trying to do it yourself.  It also feels like you may be treading on thin ice in your business endeavors.  You sohuld seek out competent counsel to advise you before relying on DIY forms.,... Read Answer

How much is your claim? Most lawyers won't even assist if its a minor claim as attorneys fee ranges from $1,500 - $3,000 on a claim. However, figure out how much the total would be worth, and than give us a call. We can most certainly guide you how to go about it. We can certainly help you evaluate your options. Feel free to give us a call or text for a free consultation. Thank You. Toll-Free 1-877-866-8665 // Corporate Lawyer in Texas... Read Answer

If you expose the fraudulent conduct of your former employer, you may face former employer may sue you for defamation.  Truth is always a defense to defamation, but you still may face a lawsuit until you prove in court the truth of your claim. You should check your retirement pension or payment plan for any clauses that may cause you to lose your retirement payments if you expose your former employer of fraudulent conduct without proof of the truth of your claim.... Read Answer

If you violate a protective order, you may be held in contempt of court.  For an egregious case, the court could order jail time and dismiss your case or your defense.   In most cases, however, if it involves an individual without counsel, you will be given a tongue-lashing and that is all.   If the violation causes money damages to the other party, you may face a civil suit for damages. ... Read Answer

What you are describing sounds like an arrangement called a series LLC. In Texas, it is perfectly legal to arrange companies as series LLCs where one or more umbrella companies own other companies in whole or in part. The Business Organizations Code Chapter 601 is the law that made Texas one of the few states that legally recognizes this business structure. For a long read on the pros and cons of series LLC, please go here: http://www.mondaq.com/unitedstates/x/89858/tax+authorities/The+Texas+Series+LLC+Sophisticated+Planning+Tool+Or+Trap+For+The+Unwary... Read Answer

Did the new company (B) buy the old company (A) and dissolve the old company? Or did the new company (B) simply replace the management of A? This is an important distinction. If the company that issued your stock options still exists, you have a right to sue them to enforce your options under the agreement. If the new company completely replaced the old company and the old company dissolved, you may be out of luck. An attorney would need to review your agreement and investigate the terms of the merger or corporate takeover that took palce in your case.   ... Read Answer

Owners of corporations can own any percentage of stock.  Assuming that the two of you should own the business 50/50, one way of facilitating stock for future investors is to have the company maintain the unused stock for later use, sometimes called treasury stock.  If the company is split 65/35, then your partner will own 65% of the company.  Now, he could transfer any amount of his stock to a future investor, but that would be up to him.  Also, I am assuming there are no restrictive stock agreements and the future offerings will not be substantial enough that you need to register the offering. There are several other ways to set the transaction up that are somewhat more complicated, but the easiest way would be for the company to own the unused stock and then it can be sold to investors at a later date.... Read Answer

Dear Mr. Whiteley, Yes, a corporation can shield you from your personal assets being at risk when conducting a business/venture of some sort.  There are six (6) main different types of Texas corporations; you can "Google" to find out and/or, when you're ready contact us at (713) 910-5757 and/or via email to AttorneyGlass@yahoo.com Please note that we can discuss - and address - your options regardless of which Texas city in which you reside and/or conduct business, as Texas law is obviously the same statewide.  We have a large percentage of corporate (and other) clients, most currently from Brenham to Abilene, etc. Note that this site is using old information from 10+ years ago, so please contact me using the info. above instead of what Lawyers.com has"on file." Thank you, Howard L. Glass LAW OFFICES OF HOWARD GLASS, P.C. Great Southwest Building 1314 Texas Street, Suite 1100 Houston, Texas 77002 (713) 910-5757 Telephone (713) 237-0755 Telefax AttorneyGlass@yahoo.com ... Read Answer