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Court Of Chancery Enforces Manager Rights In LLC

Posted In LLC Agreements

2009 Caiola Family Trust v. PWA LLC, C.A. 8028-VCP (April 30, 2014)

The language of an LLC agreement is all important in determining what it permits. This decision illustrates that point by holding that, under the LLC agreement involved, a 90% owner cannot remove the LLC manager.  This seems counterintuitive.  But that is the lesson of LLC law - you get what you agree to even if it is odd.

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