Nicholas R. asked
My partner and co-founding board member in Alabama informed me in June that she no longer wanted to be part of our 1 1/2 year journey to open our school. She had split the expenses 50/50 until then. Our lease was in her name, which expired that month, and she closed our joint account in July. I have not heard from her until she learned that the school was open. I replaced her on the board to comply with a minimum of 3 members. Is she entitled to recoup the funds she paid during our startup period? Our bylaws don't cover this and we have no written agreements.
September 10th, 2024
Derek M. answered
Based on the information provided, it appears that you do not owe her any funds. The expenses were i...
September 10th, 2024
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