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Corporations Keyed to Hazen
Lieberman v. Wyoming.com LLC
Citation:
11 P.3d 353 (Wyo. 2000)Facts
On September 30, 1994, Steven Mossbrook, Sandra Mossbrook, and Lieberman created Wyoming.com LLC by filing articles of incorporation. Lieberman was vested with an initial capital contribution of $20,000. His contribution represented a 40% ownership interest in the LLC. The Mossbrooks were vested with the remaining $30,000 capital contribution and 60% ownership interest. On February 27, 1998, Lieberman was terminated as vice president of Wyoming.com and required to leave the business premises. In response to Lieberman’s notice of withdrawal, the members of Wyoming.com held a special meeting and accepted his withdrawal. They members also elected to continue, rather than dissolve, Wyoming.com. Additionally, they approved the return of Lieberman’s $20,000 capital contribution. However, Lieberman refused to accept the $20,000 when it was offered.
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Limited Liability Company