Legal Question in Business Law in Georgia

He/she would need to transfer their interest in the LLC. If there is no agreement regarding withdrawal of a member, you can either transfer the interest to someone/something pursuant to section 14-11-502 or have your interest redeemed by the company pursuant to 14-11-601.1.

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In addition to resolving the immediate issue, take this opportunity to fix the problems initially created by not executing the appropriate agreements and documents. Had they been done initially, it would have answered the question of buying out a member. A major dispute between members and partners of a small business is virtually guaranteed to sink the business and everyone will lost their investment.

It sounds like everyone did things without a lawyer, and that complicates things now, as such things are supposed to be addressed in written documents at the inception of the business. So, by saving a few hundred dollars then, everyone may spend a fortune on an expensive court battle now (maybe tens of thousands, and usually the business will fail while everyone fight over it in court).

But now everyone needs their own separate lawyers.