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LLC profits need to be examined

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  • LLC profits need to be examined

    I own 14% of an LLC that was formed 4 years ago in Delaware; and the business is now making decent money. But I am not getting very much and I am not sure I trust the other 2 members to be 100% honest. What can I do to make an audit or forcibly examine the books in detail and see if I am owed more?

  • #2
    What have you done so far? Have you asked to see the business financial records? Do you have day to day access to the business location where you can walk in the door and look up the records? What kind of business is this? Who runs it and how? How and why did you get involved with it in the first place? Is there an operating agreement addressing any of rights and obligations of the members?

    Ultimately, if you can't get cooperation just for the asking, you may have to seek a court order compelling an audit.

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