California LLC Legal Advice (114 found)

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Karen L Brady
Karen L Brady's answer
Contributor Level 4

From your question it appears you should definitely consult a lawyer so that...
Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

To add to the previous post, there could be significant tax consequences...
Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

If he had K1 prepared showing you as 50% owner he cannot change it unilaterally....
Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

I agree, fundamentally, with the first answer - especially the recommendation...
Question

Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

The operating agreement should have the answer to your question. There should...
Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

It depends on the operating agreement and any other agreements you have with...
Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

I agree with the first two answers, though I would like to add the following:...
Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

The house is at risk if there is a default by the LLC on the loan. Usually the...
Question

Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

First, a bit of terminology: In an LLC, you are members, rather than partners....
Peter Robert Stone
Peter Robert Stone's answer
Contributor Level 7

When you formed the LLC did you have a lawyer? Did they have a lawyer? Is there...
Question

Andrew Daniel Myers
Andrew Daniel Myers' answer
Contributor Level 7

Did you set the LLC up properly? Did you capitalize the LLC properly? What...
Question

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George Daniel Straggas' answer
Contributor Level 3

You should form the entity before you start to conduct any business. One of...
Pamela Koslyn
Pamela Koslyn's answer
Contributor Level 10

You should form the liabiity limiting entity as you start this business, and...
Question

Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

You need to speak with a CA attorney immediately that is familiar with business...
Pamela Koslyn
Pamela Koslyn's answer
Contributor Level 10

In CA, in the absense of governing documents that say otherwise, a corporation...
Question

Pamela Koslyn
Pamela Koslyn's answer
Contributor Level 10

The 3 members need to hire a business litlgator, who needs to send a demand...
Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

To add to what was said before, in addition to the operating agreement, your...
Question

Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

You may find the information at the link below to be helpful. The central...
Question

Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

Let's assume that (a) you complete the LLC dissolution process properly (first...
Pamela Koslyn
Pamela Koslyn's answer
Contributor Level 10

My colleague has ably answered the possibilities and scope of potential...
Question

Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

If someone wants to sue your LLC, s/he will serve the papers on your registered...
Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

As a condition of becoming an LLC you are required to designate an agent for...
Question

Pamela Koslyn
Pamela Koslyn's answer
Contributor Level 10

Yes. Please see the Secretary of State conversion table linked below....
Kaiser Wahab
Kaiser Wahab's answer
Contributor Level 6

As mentioned before, an LLC can generally be converted into another entity form....
Question

Pamela Koslyn
Pamela Koslyn's answer
Contributor Level 10

Many lawyers consider DE to have the most corporate-friendly (anti-shareholder)...
Henry Daniel Lively
Henry Daniel Lively's answer
Contributor Level 7

There are certain advantages to forming an LLC in Deleware, but most small LLC'...
Question

Pamela Koslyn
Pamela Koslyn's answer
Contributor Level 10

The Secretary of State can be backlogged, so a 2 week wait isn't unusual. But...
Henry Daniel Lively
Henry Daniel Lively's answer
Contributor Level 7

I agree with Ms. Koslyn. You need to wait until you receive your filed...
Question

Henry Daniel Lively
Henry Daniel Lively's answer
Contributor Level 7

It has been my experience that most attorneys will try to sue the individuals...
Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

It can be dissolved. The members of the LLC are generally not liable for the...
Question

Steven Alan Fink
Steven Alan Fink's answer
Contributor Level 8

This is a follow-up to previous question. Banks will typically not loan to LLC'...
L. Maxwell Taylor
L. Maxwell Taylor's answer
Contributor Level 7

I don't hold California law licensure so this is not legal advice, just my...
Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

I have provided this service for many clients and would be pleased to help you....
Henry Daniel Lively
Henry Daniel Lively's answer
Contributor Level 7

You should hire an attorney with experience in setting up LLC' s for this...
Question

Henry Daniel Lively
Henry Daniel Lively's answer
Contributor Level 7

Not conducting business means that the entity has no assets or liabilities,...
Question

Dana Howard Shultz
Dana Howard Shultz's answer
Contributor Level 7

Please see the answer to this question when it was asked one hour earlier.

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