Legal Question in Business Law in Oklahoma
I am an equal partner (25%) in an LLC with three other people. I am the COO for the company and I want to relieve myself of the partnership. I know I can sell my interest to another partner if they are willing. If the other partners are not willing to buy can I simply resign, give my shares split equally to the remaining partners and walk away? My social security number is used as the person of responsibility for the company. There is no inventory, facilities and minimal monthly expenditures (less than 500.00 per month recurring) and has no debt. What are my options?
1 Answer from Attorneys
Your options should be stated in your LLC agrement or agreement between the investors. Read that agreement.
If yo do not have an agreement, ask you partners if they would accept your share and release you from any liability.
It may be worth your money to consult a business lawyer, in your area.
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