July 02, 2018 Substantive Law

Minority Veto Rights in an LLC and Their Practical Limitations

By Brad K. Saunders

Case Study

Blue Jay LLC is a manager-managed Florida limited liability company that manufactures whistles. The company has three owners. Paul and Linda are siblings who each own 35 percent of the company. George owns the remaining 30 percent. Each is a manager of the company. Paul and Linda want all company decisions to be made by a majority of managers, so they can control the operations of the company. All three have significant experience in the manufacturing sector.

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