Colorado  |  Business Law

Legal Question

Asked on: 1/09/07, 12:13 pm

LLC co -owner wants out

If a member of an LLC (three members) wants to leave what is he entitled to? He is arguing that he should get (1/3)of money the business spent on marketing, vehicles etc.--from the past three years he was a member! The two remaining members believe he is entitled to 1/3 of our bank account and assests MAXIMUM. He states that he wants return on his investments, when really it was the LLC that invested with our earnings on things like maketing, tansportation etc. He's asking for more the company is worth if we just shut it down and went our three ways. How does this work? My gut feeling is that he is not entitled to anything we don't have now.

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