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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 116723
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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How do I disassociate from a LLC

Resolved Question:

How do I disassociate from a LLC
Submitted: 8 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 8 years ago.
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: 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
Expert:  Law Educator, Esq. 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.
Customer: 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.
Expert:  Law Educator, Esq. 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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