Forced retirement Texas

Question Details: What are the laws concerning forcing your partner to retire in the state of texas in an LLC

Asked 11/3/2009 under Business | 212 View(s) | More Legal Topics

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Business Law Answers

Unless you have something written into your LLC's operating agreement, the law isn't likely to be of much help to you on this, unless there's some reason why your partner's continued participation is damaging to the business.  Age alone isn't a good enough reason, unless age alone directly impacts the person's ability to contribute to the business.

Even if you have grounds to force someone out of the business, you must be prepared to pay him the fair value of his interest, if you want to continue the business rather than close it down.

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