Legal Question in Business Law in Florida

Changes to my LLC
I have an LLC that I started with a partner in 12/06. It is for a Real Estate Investing business that we were going to start. We have not done any RE Investments and have not used the LLC at all. I have continued to pay the fees to keep the LLC active and continued to file yearly. Last year, we added my new partner as a managing member. The original member has decided to bow out and nothing is owed to either one of us. Is this allowed to do without consequences and could the business continue with just the names of myself and my new partner. Or must I open a new LLC?

When the old partner is deleted, she then would relinquish all rights to the business and the LLC? Is that correct? Where would I go to make the above changes to my LLC? I live in Florida.

Asked on 2/01/09, 4:10 pm

David Slater David P. Slater, Esq.

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Re: Changes to my LLC

You need not form a new LLC. Have the outgoing partner sign a waiver of rights.

Answered on 2/03/09, 10:42 am

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