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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">If no written operating agreement the ‘operating agreement’ is defined by statute; is that topic covered?<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Tom Westbrook<br>
<b>Sent:</b> Wednesday, January 25, 2023 4:21 PM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] LLC economic interest<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><img width="100" height="100" style="width:1.0416in;height:1.0416in" id="_x0000_i1027" src="cid:image001.gif@01D930DB.064A3D40"></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">I would start with the Operating Agreement. At least that is where I would put any language like that. If it isn’t there, then I am not aware of any statutory basis that falls under.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">Sincerely,</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">Tom</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">Thomas J. Westbrook</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D">Attorney at Law</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D"><img width="152" height="62" style="width:1.5833in;height:.6458in" id="Picture_x0020_2" src="cid:image002.jpg@01D930DB.064A3D40"></span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D">324 West Bay Drive NW, Suite 201</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D">Olympia, WA 98502</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D">(360) 866-4000 phone</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D">(360) 866--3832 fax</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Book Antiqua",serif;color:#1F497D"><a href="http://www.buddbaylaw.com/"><span style="color:blue">www.buddbaylaw.com</span></a></span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:red">COVID POLICY:</span><o:p></o:p></p>
<p class="MsoNormal"><i><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">Our firm continues to follow guidance from the CDC and Governor Inslee’s office regarding social distancing and the wearing of face coverings, and we encourage
the public and our clients to do the same. Our staff is still working remotely much of the time so electronic communication by phone and email continues to be encouraged. We appreciate your patience and understanding.</span></i><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;color:#1F497D"> </span><o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Roger Hawkes<br>
<b>Sent:</b> Wednesday, January 25, 2023 3:46 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] LLC economic interest</span><o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Please post answers to the list or include me. I have a case where this is an issue.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"> </span><o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Ralph Maimon<br>
<b>Sent:</b> Wednesday, January 25, 2023 11:44 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] LLC economic interest</span><o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal">Is anyone aware of any law or precedent that allows an economic interest member of an LLC to receive the proceeds of the income producing property itself on its sale or is he/she restricted to the regular income?.
<o:p></o:p></p>
<p class="MsoNormal"> <o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:26.0pt;font-family:Mistral;color:#2F5496">Ralph Maimon</span></b><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Law Office of Ralph Maimon, P.S.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">2811 E. Madison Street, Suite 202</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Seattle, WA 98112</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">(206) 323-0911</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Fax: (206)462-1505</span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif"><a href="http://www.maimonlaw.com/"><span style="color:#0563C1">www.maimonlaw.com</span></a>
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