Legal Question in Business Law in Texas
I own 40% of a business, I have two partners, a 20% and a 40%,it is an LLC in Texas, the 40% partner gave away part of our business to his son,I called a member meeting to halt the action, to my suprise the 2 members voted me out of the daily operations, I had been making 8000.00 per month. They voted to give me 5500.00. is there any recourse or do I just have to take their vote and go on? I was the original partner ran the company for 6 years.
Asked on 2/05/10, 6:53 am
1 Answer from Attorneys
Ken Gober (Austin TX)
Lee, Gober & Reyna
You need to consul a business law attorney. The answer to your question will depend on the exact language of your formation documents.
Good Luck!
Answered on 2/10/10, 12:57 pm
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