Legal Question in Business Law in Maryland

40% owner in Maryland LLC. Want resign and take 40% of assets. Can this be done? Must I wait 6 months? nothing in operating agreement.


Asked on 3/02/11, 4:08 pm

1 Answer from Attorneys

Phillip M. Cook Cook Legal Services, LLC

Probably can't take 40% of assets. Instead, you can "sell" your 40% of LLC interests (or units or whatever they are called in your case) to the other members of the LLC. Hire a lawyer to guide you.

Best of luck.

Read more
Answered on 3/03/11, 7:28 am


Related Questions & Answers

More Business Law questions and answers in Maryland