Ott v. Monroe
Supreme Court of Virginia
719 S.E.2d 309 (2011)
Relevant factsFree
Dewey Monroe owned 80 percent of an LLC he formed with Lou Ann Monroe (defendant), who owned the remaining 20 percent and served as manager; Dewey's will left his entire estate to his daughter Janet (plaintiff), and after Dewey died in 2004, Janet attempted to remove Lou Ann as the LLC's manager and elect herself in that role.
IssueFree
Whether a deceased LLC member's estate beneficiary inherits full membership rights in the LLC, including the power to act as or remove a manager, or only the more limited rights of an assignee.
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