Legal Question in Business Law in Wyoming

LLC Member Resignation

Can a member of an LLC resign?

If so what obligations would the member have to outstanding debt and liabilities incurred by the LLC?

The operating agreement is very vague and unclear on the matter; simply addressing death and membership transfer issues. It does not address a member voluntarilly leaving the LLC.


Asked on 5/02/07, 3:12 pm

1 Answer from Attorneys
Anthony C. Gold Law Office of Anthony C. Gold

Re: LLC Member Resignation

Unfortunately, the Wyoming Supreme Court has botched how this situation is handled with their decision in Lieberman v. Wyoming.com LLC, 2004 WY 1 (available at http://wyom.state.wy.us/applications/oscn/deliverdocument.asp?id=438273&hits=). Did a lawyer draft the LLC's articles of organization and operating agreement? Either way, your situation is a complicated one, so although it may seem self-serving, I recommend you contact a lawyer ASAP.

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Answered on 5/03/07, 2:10 pm


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