Legal Question in Business Law in California

You'll have to look at the Operating Agreement to determine what happens. LLCs are typically flexible in their approach to what happens when a member withdraws. There could also be requirements for how to withdrawal and potentially different options. Like I said, first step is to read the Operating Agreement or ask the company's attorney how things were done. Feel free to contact me if you need any further help.

Review your company rules and regs for the answers, they are supposed to clearly lay out these issues. I'll be happy to help you, feel free to contact me.

As mentioned by John and Terry, you should read over your operating agreement. Your operating agreement may have provisions 1) requiring that the company buy out the withdrawing member's shares or 2) having the withdrawing member hold economic interest in the company but not any decision-making power.