Legal Question in Business Law in Pennsylvania

I am a partner in an LLC, both partners owning 50%. The business has accumulated some debt due to the carlessness of bookeeping by one partner. That same partner has medical issues and under the advice of a doctor, would like to leave the LLC. He is willing to pay his share of the debt. to leave the business. I do not have an issue with this. Does law permit my partner to leave the LLC? How or under what circumstances?


Asked on 4/05/11, 1:51 pm

1 Answer from Attorneys
Sharmil McKee McKee Law Office

Yes the Pennsylvania business code permits Members to withdraw from an LLC at anytime. The first place you should look for instructions about withdrawing members is your articles of organization. If you do not have an organizational document or other member agreements then you should review the section of the code discussing membership withdrawal. Review Title 15, chapter 89 the Pennsylvania consolidated stautues.

You can find the statutes online http://www.legis.state.us

Good luck.

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Answered on 4/06/11, 6:39 pm


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