Looking for some advice on changing the member structure/ dissolving a newly formed LLC in the State of Texas. Trying to get smart before contacting an attorney (and, I'm assuming this will not occur without some pushback by a couple of members).
Quick facts are- LLC was formed recently, multiple members have contributed small capital, and the corporation has generated its first revenue dollars. However, certain events necessitate the possible removal of one or more LLC members.
Is there a way/ mechanism for removing LLC members short of blowing up the existing corporation? (Vote, etc.)
Looking at some general website/ information and it appears that there are some 100% voting rules/ other hurdles to doing this if all parties are not in agreement.
Any quick thoughts would be greatly appreciated.
Quick facts are- LLC was formed recently, multiple members have contributed small capital, and the corporation has generated its first revenue dollars. However, certain events necessitate the possible removal of one or more LLC members.
Is there a way/ mechanism for removing LLC members short of blowing up the existing corporation? (Vote, etc.)
Looking at some general website/ information and it appears that there are some 100% voting rules/ other hurdles to doing this if all parties are not in agreement.
Any quick thoughts would be greatly appreciated.
