Drop LLC member & Remove from Business Checking

**sdavis2702** · 08-25-2009 06:18 AM

Hey everybody I have a quick question based on the following scenario.

My buddy and I started an LLC no more than a month ago. However, we've decided not to go forward with our original plan. I am going to be keeping the LLC as the one and only member. I will also be keeping the small business checking account through Bank of America.

1. How do I have his name dropped from the LLC?

2. The LLC is currently in his state, which I am not a resident of. I'd like to switch states. Any info on that process?

3. Can I get started with removing him from the bank account or does the LLC stuff have to be complete first?

Thanks!

**LSnyder** · 08-25-2009 12:11 PM

If you do not have an Operating Agreement, the default provisions of your State's LLC statute will probably answer the question

**2gould** · 08-26-2009 11:41 AM

Lisa is correct. Look to your Operating Agreement first and if the Agreement is silent on the issue, your State's LLC Statute should provide the answer to your question in the default rules/provisions.
In terms of switching states, most States will have the process you need to follow on their Secretary of State's website (Corporations division). Look on both State's websites for guidance. Also, if you are reasonably comfortable reading statutes, the State's LLC statutes will also give you direction.
Hope that helps.
Charley