Legal Question in Business Law in Georgia

Dissolution of one partner from LLC

I am a 1/3 partner in an LLC. I want to resign from the business. The other two partners wish to continue the business. In lieu of this situation, what type of letter do I need to write to have my name removed from the LLC to ensure that I will not be held liable for any future debt? Is there any additional steps that I need to take? Thanks for your help.


Asked on 2/25/07, 10:32 pm

2 Answers from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: Dissolution of one partner from LLC

There is no for letter for withdrawing from an LLC. The process should be laid out in the operating agreement, or whatever the agreement between the members is called. Keep in mind that there may be a withdraw penalty.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

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Answered on 2/26/07, 10:53 am
Charles W. Field Charles W. Field, Attorney at Law

Re: Dissolution of one partner from LLC

You probably can't just write a letter and walk away. Your LLC documents should provide the exit procedure. Consult with a local attorney.

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Answered on 2/27/07, 3:31 pm


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