• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

LLC Operating Agreements

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

tlinders

Junior Member
What is the name of your state (only U.S. law)? Texas

If the LLC has a membership of two equal partners and the existing operating agreement states that upon the removal of one partner (by whatever means - choice, death, etc) the LLC must be dissolved, can an amendment be used to state that rather than dissolving the LLC, the shares of the removed partner go to the remaining partner and the LLC remain active?
 


tranquility

Senior Member
If both partners agree to the change and you follow the LLC's or state's procedure for changing the organizing documents, why not?


Who would object?
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top