Legal Question in Business Law in Oklahoma

Oklahoma LLC Question

What happens when an LLC has been terminated but no winding up occurred and a former member still holds company assets? Is the former member entitled to the property?

Asked on 1/03/13, 10:24 am

1 Answer from Attorneys

The answer to this question must be found in your Operating or Partnership agreement that was required when the LLC was established. You did not indicate such an agreement. However, you must still divide any assets if a partnership exists or collect any amount you personally invested.

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Answered on 1/03/13, 2:06 pm

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