Legal Question in Business Law in Florida
LLC Members
The LLC is in financial trouble. IF only 1 member can contribute money to help out, and doesn't want to loan any additional funds, can this member get the other member out of the LLC. I have previously loaned the LLC money and can't do it again. The other member doesn't have any capital to pay mortgage or any bills, what are our options
1 Answer from Attorneys
Re: LLC Members
Much more information is required to give accurate legal advice. To even begin answering your question, an attorney will need to review your Members Agreements, if you have any, along with the LLC�s Articles and other corporate documents. There is always the option of buying other Member out. If your formation documents do not provide buy out provisions, circumstances may support a court action to force the dissolution of the LLC. There are simply too many contingencies to give a quick answer. You need to speak with an attorney and have him or her review your options.
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