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Loren, Attorney
Category: Business Law
Satisfied Customers: 33098
Experience:  30 years experience representing clients .
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what filings does someone need to do to get removed off of

Customer Question

what filings does someone need to do to get removed off of an llc in colorado?
Submitted: 4 years ago.
Category: Business Law
Expert:  Loren replied 4 years ago.
If you are not selling your interest to the other member and only withdrawing, it may be a relatively simple matter in Colorado. The statute on the topic of member withdrawal states the following:
7-80-602. Resignation of member.
A member may resign from a limited liability company at any time by giving notice to the other members, but, if the resignation violates the operating agreement, the limited liability company may recover from the resigning member damages for breach of the operating agreement and offset the damages against the amount otherwise distributable to the resigning member.
Thus, a member may resign from a Colorado LLC merely by giving notice to the other members in writing with the added precaution of having the remaining member sign a copy of the document acknowledging that he / she received notice.