Legal Question in Business Law in California

I am partner in a California based LLC for last 4 years but my partner is not sharing bank statements, profit and loss and accounts of company with me.

I have approx 5% shares in LLC.

Can you please help me in this regard.

Asked on 5/29/13, 11:51 pm

2 Answers from Attorneys

William Christian Rodi Pollock

You sholud discuss your specific circumstances with a business attorney. He will need to see your operating agreement and the documents issuing the 5% membershiip interest. You are entitled to finiancial records under the Code though this may be revised to some extent by the operating agreement.

See an attorney. Often a simple letter fro counsle willl resolve the issue. However you must consider the impact this will have on your business relationship as well as your rights.

This gratuitous response does not create an attorney client relationship. The advice provided herein is generic, may not apply to your circumstances and is not to be relied upon in your actions. An attorney client relationship is created only upon execution of an engagement letter hiring me or my firm.

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Answered on 5/30/13, 3:18 pm

Terry A. Nelson Nelson & Lawless

Help you? Sure.

That means represent you in dealing with him and the company, demanding an accounting and payment of whatever you are due. If this can't be resolved informally, then you may have to consider filing suit. If serious about hiring counsel for this, feel free to contact me.

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Answered on 5/30/13, 5:12 pm

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