Q: Can a majority owner. In LLC dictate how I sell my shares. If there is no operating agreement?
In order to adequately answer your question any attorney would need to see what documents actually govern the relationship and such documents could include handwritten contracts, emails, letters, meeting minutes, etc. Anything that is not covered by an "agreement" will likely be left up to statute and the statutes are going to restrict what any member of the company can do.
Membership interests function as restricted shares in many cases so in addition to business law advice you may want to meet with an attorney about securities law issues.
This foregoing answer is provided by Douglas J Shumway, Esq.: (801) 478-8080. The answer provided is not intended to form an attorney client relationship and should not be construed as legal advice. Mr. Shumway is licensed only in Utah. His law firm has offices in Salt Lake City, San Antonio and Las Vegas.
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