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How do I disassociate from a LLC

Customer Question
How do I disassociate from a LLC
Submitted: 8 years ago.Category: Business Law
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6/2/2009
Business Lawyer: Law Educator, Esq., Attorney replied 8 years ago
Law Educator, Esq.
Category: Business Law
Satisfied Customers: 121,091
Experience: All corporate law, including non-profits and charitable fraternal organizations.
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To dissassociate from the LLC, you must review the bylaws which should have a provision for the buyout of members leaving the LLC. If they do not have any provision, then you would need to negotiate a buyout based upon your percentage of ownership of the LLC and if they refuse, then you go to the bylaws about dissolving the LLC when there is a disagreement between members.


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Customer reply replied 8 years ago
Have tried to get the other member of the LLC to sign a dissolution agreement but is unwilling. LLC is only 6 mo old no profit etc . person just being stubborn
Business Lawyer: Law Educator, Esq., Attorney replied 8 years ago
If the membership agreement/bylaws do not have a provision for your leaving rhe LLC and the other members refuse to sign dissolution or buy you out, then as a member your only recourse is to sue them for the return of your investment to allow you out of the LLC.
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Customer reply replied 8 years ago
There is only one other member and that member refuses to sign the disolution agreement that member wrote. There are no "investment" for either of us to get back. We should have not gotten to business together in the beginning. Our business was a service business and had not even got off the ground.
Business Lawyer: Law Educator, Esq., Attorney replied 8 years ago
When there is a stalemate between members and the bylaws are silent, the only way to resolve it and dissolve if the other member will just not let you out, is to go to court and sue for dissolution.
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