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What are the legal implications for being 20% owner of an LLC?

Question Details: My husband and I are considering buying into a business which is an LLC. For our contribution, we will be 20% owners of the company. The company is worth $52K and for the first 2 years, all profits will roll back into the company to continue to grow it. After it begins making $5k per month, half of this will go back into the company and the remaining $2500 will be divided 20/80 between us and the company owner. Our percentage will not increase. Is this fair? What if someone sues the company?

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