Not logged in? Join one of the bigest Law Forums on the Internet! Join Now!   Latest blog post: Research Law Professors Before Choosing Law Schools

Advertisments:




Sponsor Links:

Discount Legal Forms
Discounted Legal Texts


Operator Vs. Associate And Associated Rights

Business Law discussions

Operator Vs. Associate And Associated Rights

Postby Garaden » Sun Apr 27, 2014 8:16 pm

My problem involves business regulation within the state-of: Florida
Can there be a legitimate difference between becoming an "operator" along with a "associate"?
Does an associate possess the to see economic files linked to the LLC. The individual Iam wondering about is outlined on her behalf 2010 E-1 as getting "share of revenue, damage, and money" of 50%.
This individual doesn't actually have use of the LLC files (this really is area of the issue).
She can't afford an attorney only at that time.- - - Updated - - -
One extra remark:
Our buddy (we've known one another since HS; I trust her) was the initial Managing Member, and also the LLC's tax identification number is associated with her SSN. I fear she might be in an exceedingly poor scenario, and never understand it. (She thinks the LLC of creating lots of errors, perhaps actually doing fraud).
Garaden
 
Posts: 6
Joined: Sat Apr 05, 2014 2:10 pm
Top

Owner Vs. Member And Associated Rights

Postby Riddoc » Mon Apr 28, 2014 5:03 am

We can not answer that. It'll consider studying the files I recommended above. If she's no use of an attorney, sheis probably attached.
An associate does not always have ANY rights towards the bank balances and company documents anymore than I like a investor in Google may move inside and need to determine their examining account.
Riddoc
 
Posts: 3
Joined: Thu Apr 10, 2014 8:16 pm
Top

Owner Vs. Member And Associated Rights

Postby Dyer » Tue Apr 29, 2014 12:47 pm

If weare referring to an LLC, an associate is definitely an operator. LLCs have people like Companies have stockholders.
What does the operating contract/articles of business state?
Iam sure the LLC is making errors. An LLC with numerous people shouldn't be utilizing her SSN to start with. You certainly can do that to get a simple participant.
She probably DOES require a lawyer with this one when the additional participant(s) are not cooperating.
Dyer
 
Posts: 13
Joined: Fri Jan 10, 2014 12:50 pm
Top

Owner Vs. Member And Associated Rights

Postby Bennett » Sat May 10, 2014 9:44 am

"My friend (we've known each other since HS; I trust her) was the original Managing Member"
If she is a member managed (members run the LLC), then she is treated as an agent of the LLC. This is very similar to partnership law.
"(2) A limited liability company shall provide members and their agents and attorneys access to its records at the limited liability company?s principal office or other reasonable locations specified in the operating agreement. The limited liability company shall provide former members and their agents and attorneys access for proper purposes to records pertaining to the period during which they were members. The right of access provides the opportunity to inspect and copy records during ordinary business hours. The limited liability company may impose a reasonable charge, limited to the costs of labor and material, for copies of records furnished."http://www.lawserver.com/law/state/f...tutes_608-4101
Good Luck
Bennett
 
Posts: 14
Joined: Sun Jan 19, 2014 7:40 am
Top

Owner Vs. Member And Associated Rights

Postby Culbart » Sun Jun 01, 2014 11:23 am

She's trying to confirm she's probably the most current files. She thinks mismanagement/scam, but can't get bank claims, etc since she's not shown as managing participant.
I acknowledge, she requires a lawyer, but she's no cash. Company has been ran in to the floor.
If she may show she's plugged from all monetary entry does that decrease her responsibility?(I am wondering not?)
Just how can she drive a complete review?
Thanks in advance.
Culbart
 
Posts: 12
Joined: Sun Jan 19, 2014 11:24 am
Top


Return to Business Law

 


  • Related topics
    Replies
    Views
    Last post