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LLC question
Ron007
subscriber Posts: 1
Hello,
I`m a newbee and have some questions:
Let`s say there are only two partners, 50-50. How does an LLC work in this case? Does each partner get half of the shares? What is the proper legal procedure for doing that? What must be done in case the two partners decide to terminate the company? What is the proper legal procedure for doing that?
Thanks -- Ron
I`m a newbee and have some questions:
Let`s say there are only two partners, 50-50. How does an LLC work in this case? Does each partner get half of the shares? What is the proper legal procedure for doing that? What must be done in case the two partners decide to terminate the company? What is the proper legal procedure for doing that?
Thanks -- Ron
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Comments
We have a New York LLC with my partner but we just decided not to go ahead with the planned business and never signed an operating agreement. My partner says just to stop paying the fees and forget about it. Is that the right thing to do?
Ron
http://www.dos.state.ny.us/corp/llccorp.html#dissolve</A>