Who Must Be Notified of an Impending Business Closure?

Posted by: Rod Kurtz on April 10, 2007

If your company is a corporation, limited liability company (LLC), or partnership, in order to close the business you and your associates must jointly agree to the closure, following procedures set out in your organizational documents and/or the requirements of the business statutes of your state. Read the documents to be sure you are conducting the voting correctly, or check the rules as defined by your state’s corporate, LLC, or partnership statutes. Make certain you record your decision with a written consent form or with a resolution in the minutes of a meeting.

To read the full story on AllBusiness.com, click here.


Post a comment



Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.

BW Mall - Sponsored Links

Buy a link now!