Re: Need info about an LLC
The relative voting rights of the members of the LLC may be spelled out in your LLC's operating agreement or articles of organization.
If the voting rights are not addressed in the documents, then the statutory voting rights provisions for LLCs would apply by default. Section 608.4231(3), Florida Statutes, states that if no voting provisions are contained in the articles of organization, then the members of an LLC vote in proportion to their current percentage or other interest in the profits of the company. A vote of a majority-in-interest of the members is sufficient, unless provided otherwise in the company's articles of organization or operating agreement.
From your question, it appears there are now only two members of the LLC, you and your son. Whichever one of you owns the greater interest in the business would win any vote. If, however, you each own the same percentage of the company, then you cannot resolve anything by voting, unless you both vote the same way. In that situation, if you and your son could not agree on how issues should be resolved in the company, you would have a deadlock and you may end up having to dissolve the company.
Since you are all family, it would be nice if you all could act like adults and resolve your disagreements in an amicable and rational manner. Even though the law may allow a dispute to be resolved in a certain way in the short term, a detached and objective reflection on the long term consequences of your decisions may counsel a different approach.
