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I have a LLC partnership with 2 other people. Need to to know my rights.

Asked over 2 years ago - Columbia, MO

The LLC is a real estate management company. The rents go into one bank account. My name is not on that account but is on the Notorized LLC agreements etc. I have not taken or asked for any money from this business in 5 years. Do I have the right to go to the bank and find out what is in the account and ask for 1/3 of the funds? Or at least some of the funds?

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Attorney answers (1)

Robert John Murillo

Reputation Level 15

Answered over 2 years ago. Business Attorney in Boulder, CO.

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Does the operating allow the members to unilaterally and without consent just go to bank and withdraw money? If so, that is an unusual operating agreement.

Before you do anything that will open you to claims for breach of contract, breach of fiduciary duty and any number of other claims, contact a local business attorney to review your operating agreement, review the facts, and advise you on your rights.

DISCLAIMER—This answer is for informational purposes only and discusses general legal principles, trends, and considerations and is not intended as specific legal advice regarding your question. This answer does not establish an attorney client relationship.

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