• 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.

Acceptable ways to sell ownership units of an LLC?

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

ready29003

Junior Member
What is the name of your state? Washington State

Suppose I own 100% of the ownership units of an LLC.

The LLC operating agreement says ownership units can only be sold and transferred with majority consent. I am the majority, so I can sell if I want to.

What are the legally acceptable ways to sell ownership units?

If I run into someone who wants to buy 40% of the units for $200,000 can I just sign a sale agreement and it is done?

Could I just go on Ebay and auction off 40 ownership units?

Could I put out a press release, contact me if you want to buy ownership units?

Could I put an announcement on my website saying, contact me if you would like to buy ownership units?

Lastly, if I do sell ownership units, do I need to notify the Secretary of State of change of ownership of the LLC?

Thanks you!

Matt
 



Find the Right Lawyer for Your Legal Issue!

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