Legal Question in Business Law in Texas

When an LLC is in place, and there is a sole manager of the business but there are other members of the LLC, can a business be sold without their agreement or input. Owner has 50% share each member has 25%

Asked on 7/27/22, 1:40 pm

1 Answer from Attorneys

Frank Natoli Natoli-Legal, LLC

Are you asking whether the manager's input is required? They are merely an employee who can be removed by vote of the members in any event at least presumbably. Their relationship is usually governed by contract so that has to be considered. But if the manager is not also a member party to the operating agreement then they are really no different from any other employee. Their domain is the day to day operations and not the big picture control of the entity.

Read more
Answered on 7/27/22, 2:04 pm

Related Questions & Answers

More Business Law questions and answers in Texas