Resigning from a LLC

by Stephanie
(Florida)

Myself and another person wanted to open a restaurant. We applied for an LLC and a Hotel and restaurant license. I had some trouble with financing and decide to step out. The other person is still in the process of opening the business. I need to know what to do as far getting my name off the LLC and rest. license so I am not liable for anything.

Answer

I think you're going to need to see a Florida attorney who is familiar with small business issues in order to properly disassociate yourself from the LLC.

Dissolving the LLC entirely is simpler than removing yourself as a member. The process for removing a member depends on both state law and/or the contents of the LLC's operating agreement.

Therefore, you'll need an attorney--particularly if you signed documents related to applying for financing (loan applications, promissory notes, guarantees, etc.)

When choosing your attorney, you need to realize that attorneys specialize. You need an attorney who specializes in closely-held business matters.