The California Revised Uniform Limited Liability Company Act, Corporations Code Section 17701.01 et seq., does not provide an LLC member owning less than 50% with a guaranteed right to be bought out.

Rather, under Corporations Code Section 17707.03, if a minority member of an LLC files a judicial dissolution action (invoking one of the statutory grounds under Section 17707.03(b)), the other members have the option—but not the obligation—to buy out the minority member’s interest pursuant to Section 17707.03(c).

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