Q: A partner and myself own a LLC in the state of Arizona. He passed away. He was the statutory agent. I filed a resolution
Changing the address of the company to my address and appointing myself as the new statutory agent as the only surviving member. His heirs are now threatening to dissolve the company. Can they do that? The company was not part of their family trust.
A: The family of the deceased member might be able to dissolve your LLC. Your Operating Agreement may be of help. It may have provided a succession plan in the event one of the members died. I recommend that you consult with an attorney concerning your legal rights and best options for preserving your business.
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