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Resigning my LLC ownership- Please help

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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



Senior Member
Formalize your resignation. Send the LLC and the 'purchaser of your share' certified letters detailing your resignation. In your letter include some words that force them to deny your resignation by response.. "Unless I hear to the contrary within 10 days of receipt of this letter, my resignation of this LLC is accepted and acknowledged. Your acceptance will also release me from any liabilities or responsibilies of or to the LLC."

Steve Halket
Judgment Recovery of Houston
[email protected]
This is my PERSONAL OPINION and is not legal advice! Consult your local attorney for your specific situation and laws!

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