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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.

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