Limited Liability Company
February 15, 2011 4:58 PM   Subscribe

I want to drop one member, pick up a new member, and change the name of my limited liability company. Is that possible?

My partner wants to look else where for opportunities to make money. I want to keep the LLC but change it's name and revise ownership.
posted by gtothep to Work & Money (3 answers total) 1 user marked this as a favorite
What state was the LLC organized in?
posted by Lucinda at 5:10 PM on February 15, 2011

Best answer: Assuming your LLC is member-managed, you can execute an agreement with the departing member that states his membership is terminated by consent of both parties (your membership agreement should have provisions for this; if it doesn't, you may need a lawyer). As for changing your name, most states allow this via an amendment to the certificate of formation of the limited liability company. This [pdf] is what Texas' form looks like. Your Secretary of State should have a similar form.
posted by fireoyster at 6:40 PM on February 15, 2011

Response by poster: Thanks so much fireoyster. That answers my question completely! If anyone has any specifics on WA state (e.g. a link, the state website is a MAZE!) I'd greatly appreciate it. Thanks again!
posted by gtothep at 8:40 PM on February 15, 2011

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