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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 1611
Experience:  Run my own successful business/contract law practice.
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Multi-member, manager operated LLC. The LLC has two

Customer Question

Hi,
Multi-member, manager operated LLC. The LLC has two managers, myself and a co-founder. Co-founder cannot devote time and should/will step aside as a manager, but will remain a member. What do I need from him to remove him as a manager on the operating agreement?
Is it a simple matter of removing him as a manager in the operating agreement, and then having everyone sign the updated agreement?
The operating agreement does not have any language that covers this scenario. NYS LLC.
Thanks in advance!
Submitted: 1 year ago via Cornell Legal Info Institute.
Category: Business Law
Expert:  Richard replied 1 year ago.
Hi there. My name is ***** ***** I look forward to helping you today. Yes, you simply need to amend the existing Operating Agreement to reference the specific change; there is no need to re-do the entire Operating Agreement. In the Amendment, you can reference your original Operating Agreement, state that other than the changes in the Amendment all terms and provisions of the original Agreement remain in full force and effect, and then specify which provisions of the original Agreement are being changed. You then want to have the Amendment signed by all the members. Then, make sure you keep the Amendment with the original Agreement anyone will know the Amendment exists. You can do this yourself or you can seek the guidance of a lawyer, but you are not obligated to engage a lawyer to do this for you.

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