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LLC Partnership Per Centage
My son, myself and one other are starting a commercial dive business. I'm involved only because I have the funds and credit to get the business started. I will also be involved in the administration end of the business. Because I'm using some of my retirement funds to start the business, I think I should have control over how the money is spent. How in a 3 way partnership can I preserve the final say on decisions in the company?
In advance, thanks for your input.
Don Coleman Jr.
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It is easy. In the operating agreement, you can simply state that certain decisions require your approval.
With three owners, I strongly recommend you find a good business attorney to advise you on the various legal issues and how to best structure the operating agreement to deal with those issues.
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