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  #1  
Old 03-03-2009, 11:23 PM
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Join Date: Mar 2009
Posts: 3

Buy out of an LLC

What is the name of your state (only U.S. law)? CA
Our LLC had decided to sell the company. There is an offer on the table, two members vote no, three of the members vote yes. The voting majority of the LLC now controls 62% based upon ownership; the 'no' members control 38%. Does the acquiring company have to acquire all 'shares' of the company before moving forward? The 'shares' of the company was divided by the initial capital investment of each partner as stated in our operating agreement. So based on that, the 'no' partners control 38% of the company's shares.
How would this work to move forward? Thank you.
  #2  
Old 03-03-2009, 11:54 PM
Senior Member
  
Join Date: Aug 2008
Location: Back in LA LA land
Posts: 1,690
Triple post!

OP posted here...
+
Under Starting & Operating A Business [url]http://forum.freeadvice.com/starting-operating-business-3/buy-out-llc-456670.html[/url]
+
Under Business Contracts and Franchises [url]http://forum.freeadvice.com/business-contracts-franchises-85/buy-out-llc-456792.html[/url]
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"Anyone who trades liberty for security deserves neither liberty nor security” ~ Benjamin Franklin
  #3  
Old 03-04-2009, 12:29 AM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Yes, too many of the same.
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