[Kevin Henry-Seacoast]

Just Curious - I'm not a lawyer but how can a 25% owner sign a contract?

"25% Minimum Ownership Percentage" or for that matter a 49% Owner?

If the operating agreement gives them authority.....it's allowed. It's common practice. The key is to making sure their is an operating agreement in place that is valid. There is a case in South Florida right now where the CFO, a minority owner signed an advanced and took the money for himself. The company's attorney is going after the advance company for the money that was taken from the accounts and the bank for allowing the advance company access to the accounts when the CFO had no authorization to sign any documents. If the advance company wants their money back, they will have to get it from the CFO who is now in prison.

[Yankeeman07]

Interesting Situation - As the world turns in the MCA World