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This is Charles Internicola and if you're a member of the New Jersey
limited liability company
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
disassociation statue. What is this statute? Well if you meet certain
criteria
if you can demonstrate that your member is violating his or her obligations
and causing economic harm to you and your other partners
then you have the right to file a lawsuit against this member and seek an
important remedy.
This remedy is called this disassociation and it would force your member
your fellow member to give up his or her equity interest in the limited liability
company.
This is an extreme remedy but it's an important one
or at least it's an important tool when you're faced with a dispute as to your
New Jersey LLC
that you know about it that you discuss with your attorney
and you include in your litigation and negotiation strategy.
I discussed this in my book The New York and New Jersey Partnership Dispute Guide in
which you can obtain a complimentary copy