Legal Question in Business Law in New York

How do I remove a member from a NY LLC? I need it to be retroactive to 2007. Right after we formed the LLC , the other member could not come up with the money necessary to invest in the business and walked away. The business did not start operating until a year and a half later. No investment was ever made by the other member. They have no financial stake or financial responsibility in the business. Basically I own everything and am solely responsible for all taxes, expenses etc. Taxes haven't been filed yet, we're on extension but will be doing them next month and want to make sure the other person does not incur any responsibility.


Asked on 1/26/11, 12:56 am

1 Answer from Attorneys
Roman Fichman Esq. Law Practice of Roman Fichman Esq.

This is a common matter with LLCs. The first source of reference would be the Operating Agreement of the company. In the event the Company does not have an Operating Agreement or the Operating Agreement is silent on this point, New York default rules under section 502 do provide for a mechanism by which to remove a member.

I would be happy to chat with you further. Feel free to contact my office at your earliest convenience.

Roman R. Fichman, Esq.

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Disclaimer: This posting has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice. You should always consult an attorney admitted to practice in your jurisdiction for specific advice.

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Answered on 1/27/11, 3:01 pm


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