Does an LLC member violate specific duties to their co-member by locking them out of company information and accounts?
Question Details:
My partner and I formed a food company consisting of recipes provided entirely by me. My partner's contribution was to be financial and sales abilities. There is no written operating agreement in place and my partner has begun attempting to secure complete control of the company based on a telephone discussion whereby I agreed to nothing more than a 60/40 financial split. Despite the lack of a written agreement sacrificing any of my statutory rights, she insists her 60% stake extends to control and has begun locking me out of company email and social media accounts, among others.
Check your articles and operating agreements. LLC should be member managed, meaning you as a member has equal control and management of the company, regardless of financial contribution.
