Legal Question in Business Law in Washington

I am a member manager of an LLC. The operating agreement that defines the distribution of income is not signed or executed by either the manager or the member. Question is, Am I required to pay out the income received by the LLC to the members or can we keep the income in the company?


Asked on 7/31/12, 5:04 pm

1 Answer from Attorneys
Charles Cruikshank Cruikshank Law Office-Since 1975

Absent a properly signed Operating Agreement, there is no conclusive answer to your question. I have been in litigation for a client who, as a member of an LLC had no Operating Agreement, and while I have looked long and hard for certainty to assist him, there is not much in LLC case law or what the legislature created. A detailed history of the formation of the LLC and its operations is the necessary starting point for good legal advice and your question does not include much of that.

Regards and best wishes.

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Answered on 8/01/12, 6:29 am


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