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Hi from just answer. I'm PDtax. I'll assist.
Buyouts of LLC members can take all kinds of forms, and negotiation can take all kinds of forms.
Deposits paid could be considered part of a buyout. So, too, should be things like release of future liability for issues of the LLC. Or release of business debts. Or anything else you want to put on the negotiating table.
Unless these amounts are substantial, I suggest a blanket nominal amount of cash be offered to make your deal and buy him out. $200, $500, whatever is needed.
I say that because that seems like a small amount to hold up a buyout.
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