What is the name of your state (only U.S. law)? Maryland
Me and my partner have decided to end our partnership relationship. We established an LLC less than a year ago. The articles of organization state that we were both owners.
My question is, how do I transfer the whole business to my name so that I am the only owner (sole proprietor).
Someone told me that all I need to do is send an Ammendment stating that I am removing him from our partnership....this does sound correct!!
Someone else told me that I need to change the Resident Agent form so that only I appear. Because everything else is all under my name, my home address and my ss#.
In the bank they told me that we both need to go there so that he can sign a document stating that he is not part of the bank account anymore. Also, they said it might be a good idea to write a resignation letter with his signature.
Can someone please guide me in the right direction, thank you.
Me and my partner have decided to end our partnership relationship. We established an LLC less than a year ago. The articles of organization state that we were both owners.
My question is, how do I transfer the whole business to my name so that I am the only owner (sole proprietor).
Someone told me that all I need to do is send an Ammendment stating that I am removing him from our partnership....this does sound correct!!
Someone else told me that I need to change the Resident Agent form so that only I appear. Because everything else is all under my name, my home address and my ss#.
In the bank they told me that we both need to go there so that he can sign a document stating that he is not part of the bank account anymore. Also, they said it might be a good idea to write a resignation letter with his signature.
Can someone please guide me in the right direction, thank you.