September 16, 2016

Operating Agreement for Texas LLC

I have a Texas LLC with two members. One member wants to resign and I will remain as a single member LLC.

Because members can not resign LLC member in Texas – I understand, I need an Operating Agreement – which operation agreement is required for this type situation.

Answer

You’re going to need an Operating Agreement that has as one of its provisions the ability for a member to resign.

Don’t confuse “Operating Agreement” with Articles of Organization–they are two different things entirely. Articles of Organization create your LLC as a legal entity with the state. However, they don’t define how your LLC operates–that’s what the Operating Agreement is for.

You’re going to need to have an Operating Agreement drawn up in order to resign from the Texas LLC.

If you used an attorney to form the LLC, then use him or her to create and Operating Agreement and have you resign as a member.

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