Legal Question in Business Law in Florida

How does someone remove themselves from an LLC in Florida. The LLC is not in any trouble and has no debts. The other partners may continue the LLC. I can get a hold of the other partners for cooperation of removing myself from the LLC. So what do I do from here?


Asked on 6/14/11, 12:40 pm

1 Answer from Attorneys

Michael Sasso M. Daniel Sasso

To do so properly has normally taken 2+ hours of time if done proficiently by legal counsel. This involves several steps that starts with the Operating agreement and perhaps management resolutions otherwise you must default to the Florida statutes located under Chapter 608 of FL laws. Some of the items involved are: resignation of all positions, withdrawal, acceptance by the LLC if needed, new resolutions on management, termination of any S short year for taxes in which you must consider undistributed retained earnings, concerns of creditors or mortgagess that may prohibit the same or force baloon of mortgage under their lien rights, new manager and resident agent elections, new bank resolutions, indemnification from liability for past and or future business transactions, etc.

As you can see to do it properly and remain protected is not quite as simple as it first appears.

Try to secure proper counsel that is familiar with it. Hope this helps.

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Answered on 6/14/11, 12:51 pm


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