Right of Dissociation in New Jersey Partnership Dispute
If you are a member of a New Jersey limited liability company (LLC) and you're faced with a dispute, an actual wrongdoing or harmful actions by a fellow member, one important legal right that you need to know about is New Jersey's Dissociation Statute. What is this statute? Well if you meet certain criteria and you can demonstrate that your member is violating his/her obligations and is causing economic harm to you and your other partners you have the right to file a lawsuit against this member and seek an important remedy. This remedy is called dissociation and would force your fellow member to give up his/her equity interest in the limited liability company. This is an extreme remedy but it is an important tool in this type of dispute within your New Jersey LLC.
For additional information about New Jersey's Dissociation Statute and other important topics concerning New Jersey partnership disputes request a complimentary copy of "The New York and New Jersey Partnership Dispute Guide".
Continue reading about New Jersey Partnership Disputes
- Take Your Business from Local Success to National Franchise with The 90 Day Franchise Launch Program
- An Entrepreneurs Guide to Purchasing a Business or Franchise
- ENDWISE: The Guide to Selling Your Business with Peace of Mind
- The New York and New Jersey Partnership Dispute Guide
- Franchise Counsel Program