Like members of any group, lawyers tend to talk shop when we get together. Lately, I’ve heard a lot of grousing from other business attorneys about “business divorces.” My colleagues are looking for solutions where there are few good options.

Businesses and their lawyers across North Carolina are buzzing over reports being sent by the North Carolina Secretary of State’s office to corporations and limited liability companies who are late filing annual reports.

A number of people have called recently with questions about closing a fledgling business before it has really taken off. This breaks my heart, but I thought it would be a good time to review what needs to be done to close a North Carolina business properly, regardless of its longevity.

North Carolina Secretary of State Elaine Marshall has notified business lawyers in the state of a suspect mailing from an outfit called “Corporate Services, Inc.” This company is sending out official-looking notices to North Carolina corporations that quote North Carolina statutes concerning the requirement to maintain minutes and threaten dissolution of the corporation for failure [...]

The North Carolina Business Court recently ruled in Mitchell, Brewer, Richardson, Adams, Burge & Boughman, PLLC; v. Brewer that the NC Limited Liability Company Act does not permit a member of a limited liability company (“LLC“) to voluntarily withdraw from the company unless there is a written agreement that permits it. Even to me, this [...]