If there are 2 owners of an LLC, can they separate without the other's consent?
Question Details: The other owner wants to separate or keep all of the money he makes and not split it. I invested time and money for the past 6 months helping him build the life portion of our company. We do not have divorce papers in place. What are my options?
No, any money earned by the company belongs to the LLC, not to an individual owner. IF any money is taken out of the company or distributed to the owners (the equivalent of issuing a "dividend"), the money must be split "pro rata" between the owners, in proportion to their ownership; neither one may keep all the money or monopolize it. He has no right to do this and if he does, you could sue him for your share of the money.
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