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Hello, Im researching your answer now.
Pursuant to Florida Statutes Section 608.432 (Transferability of member's interest), unless otherwise provided in the articles of organization or the regulations, a member's interest in a limited liability company is not assignable in whole or in part, unless a majority of the nonassigning members consent to the assignment. If the articles of organization are silent on the issue and the LLC has no operating agreement, then unless the other member agrees, you may not assign your interest. So as long as you are both OK with the numbers and method of resigning then there should be no problem.
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So how is FF&E along with open credit lines factored?
There is no default rule in FL. When a partner wants out, all members need to agree on numbers and method. That is an internal business decison. Maybe even a tax and accounting issue.
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