R
rhardy
Guest
I’ve recently resigned my one half of one percent from an LLC business in writing, received permission from the COB to sell my partnership to another partner for my asking price of $1 (since it was given to me in the first place by the LLC). The LLC is dragging their feet, or appearing unwilling, to have their legal folks rewrite the LLC contract to reflect my removal. I’m very concerned about still being liable under the current contract (which describes me as a member not an officer of the LLC) for my percentage of accrued debt/loans if the company dissolves. Is there any time frame for these issues to be completed? Am I still liable for the monies? By accepting the $1 from the other partner is this gesture enough to protect me from that mountain of debt? Is there anything I can do to encourage them to now take me off the legal document(s)?
Thank you for a professional opinion,
Roger F. Hardy
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