If I registered a LLC and one of my business partners backed out and is name is on the LLC, what do I need to do so we can his name off?
Question Details: He did not invest any money into the company. He backed out before any work began but after the LLC (from an on-line sit) was initiated. I am not sure how to go about taking his name off.
Glenn M. Lyon, Esq. / MacGregor Lyon, LLC.
Answered 11 months ago
This attorney is licensed in Georgia
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Ownership in an LLC is not automatically listed with the Secretary of State. If ownership was included in the Articles of Organization, they may need to be amended or restated. Either way, the company's operating agreement should be amended to reflect the ownership change.
