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As an LLC member what an I entitled to?

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ITCoast

Junior Member
What is the name of your state? NH

I am a member of an LLC in New Hampshire. I have invested in this company and receive a K-1 every year showing that I am an Individual partner with 10% "Ownership of Capital". Does this ownership entitle me to to request financial information about the company? What type of financial information should I be allowed to see? I am asking because I would like to see my ownership interest and have been denied information that I requested.
 


JETX

Senior Member
ITCoast said:
I am a member of an LLC in New Hampshire. I have invested in this company and receive a K-1 every year showing that I am an Individual partner with 10% "Ownership of Capital". Does this ownership entitle me to to request financial information about the company? What type of financial information should I be allowed to see? I am asking because I would like to see my ownership interest and have been denied information that I requested.
What do the LLC 'Articles and/or By Laws' say about owners access to data??
Have you made this request in WRITING?
Have you asked to review their records during normal business hours?
 

ITCoast

Junior Member
I have made the request in writing

I have made the request in writing and there are no By Laws on file for this company. I am told that the operation of the company defaults to the statutory laws of the state that govern how an LLC operates.

The Managing Partner of this company (owns 60%) and myself had a falling out. Since then I have been denied access to all company information. The company is doing well and I would like to sell my ownership interest.
 

JETX

Senior Member
ITCoast said:
I have made the request in writing and there are no By Laws on file for this company. I am told that the operation of the company defaults to the statutory laws of the state that govern how an LLC operates.

The Managing Partner of this company (owns 60%) and myself had a falling out. Since then I have been denied access to all company information. The company is doing well and I would like to sell my ownership interest.
Then you are going to have to get a local attorney to review ALL of your documents and make a demand for inspection on your behalf. If necessary, the attorney can get an order from a court demanding inspection. And yes, this will require an attorney. It is far too complex for a layperson to try to do.
 

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