Legal Question in Business Law in Delaware

Hi,

I am a partner with 2 other members in an LLC. This LLC is registered in Delaware and we are all in 3 different states (other than Delaware). We do online sales so we don't have a physical shop or anything.

Now, due to personal reasons I need to resign from the LLC. Both the other partners are OK with it. I just wanted to know if I can resign, and what I need to do to get myself out of the LLC. We have no revenue at the moment so I am ok without getting any money from the LLC.

If possible, I would like to add a clause that i get re-imbursed at some future time when the LLC starts making profits. The other partners are ok with that as well.

All help will be greatly appreciated.

Thanks!


Asked on 12/04/10, 8:16 am

1 Answer from Attorneys
Kevin B. Murphy Franchise Foundations, APC

As a Franchise Attorney I observe that this is not a simple situation for a legal bulletin board like this. The operating agreement and other documents of the LLC need to be analyzed and considered. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

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Answered on 12/10/10, 7:09 am


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