Legal Question in Business Law in Oklahoma

What legal work needs to be done when buying an exhisting llc

Asked on 1/03/13, 2:33 pm

1 Answer from Attorneys

All paperwork must be changed to reflect current ownership. This includes the operating agreement, if it is a Limited Liability Company, If this is a Limited Liability Partnership, all partnership agreements must be revised or rewritten. You must also document the changes of ownership interests and remove the current owners entirely to include as a part of your business file and registration with the State of Oklahoma. You must also document any buy-outs or member interests that was concluded the previous owners.This is very for you protection. And, we recommend that you take these and other steps to assure a complete transition of ownership. If you need assistance in this effort, please let us know.

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Answered on 1/03/13, 3:05 pm

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