LLC Partnership Per Centage

[doncolemanjr@gmail.com]

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.

[Business Attorney]

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.