Good evening. You are correct...not him. He has a fiduciary duty to the LLC and the other members and he cannot simply unilaterally decide he is entitled to take money from the LLC for his own benefit without the joinder of the other members.
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Yes....you cannot simply take his LLC interest from him...but you can lock him out based on his actions. Eventually, you will need to value his interest reduced by what he took from the LLC illegitimately.
You can freeze his interest so he has no right to act until you can get him out of the LLC. Given his actions of helping himself to the LLC's money, his access can be restricted. But, if he owns 20% of the company....and let's say for example the LLC is worth $1,000,000...his interest is worth $200,000 without accounting for what he stole from the LLC.....you don't have the right to simply take his 20% interest.
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