Legal Question in Legal Ethics in New York
I currently have a operating agreement (LLC) with one partner. We each have 50% interest in the company. If I want to sell and he doesn't can I essentially give him my half and walk away?
1 Answer from Attorneys
The answer to your question should be found in the operating agreement. If the operating agreement is silent on this point, under default New York law you cannot unilaterally withdraw from an LLC and would have to either come to an agreement with your partner or request court intervention through a judicial dissolution.
I would be happy to chat with you further. Feel free to contact my office at your earliest convenience.
Roman R. Fichman, Esq.
www.TheLegalist.com │ @TheLegalist
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