What is the name of your state (only U.S. law)? AZ
I have had a falling out with another member of our LLC (Mr. A) who holds a 25% interest in the company. The remaining member (Mr. B) and I (holding 55% and 20%, respectively) want Mr. A out. In a conversation between Messrs A and B, Mr. A expressed that he just wanted to be done with me and would get out for no compensation if we would deliver him his K1 for 2010 ASAP.
Assuming for the moment that Mr. A is dumb enough to walk away from his investment with no renumeration, what documents must he execute to ensure that he has, in fact, forfeited his interest and any rights to it, or other recourse, in the future. I don't want this coming back to bite me in the butt down the road.What is the name of your state (only U.S. law)?
I have had a falling out with another member of our LLC (Mr. A) who holds a 25% interest in the company. The remaining member (Mr. B) and I (holding 55% and 20%, respectively) want Mr. A out. In a conversation between Messrs A and B, Mr. A expressed that he just wanted to be done with me and would get out for no compensation if we would deliver him his K1 for 2010 ASAP.
Assuming for the moment that Mr. A is dumb enough to walk away from his investment with no renumeration, what documents must he execute to ensure that he has, in fact, forfeited his interest and any rights to it, or other recourse, in the future. I don't want this coming back to bite me in the butt down the road.What is the name of your state (only U.S. law)?