Why would the LLC require unanimous consent on some conditions but not others?
In general, business decisions will be resolved by a majority vote of the members. However where the impact on individual members will be significant, the company may wish to resolve these decisions through a unanimous vote in order to protect the interests of individual members. The members may want to require unanimous consent for areas that are deemed critical to the success of the LLC, such as hiring/firing of employees or things that will affect the interests of all existing members and their stake in the enterprise such as bringing on a new member or acquiring or selling company assets or assuming substantial company debt.
Related Questions
- Under the section "Actions that require Unanimous Consent of the Members", what is meant by the option "Assignment of ownership rights of Company Property"?
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