Removing Llc Partner

Summary

To remove a non-responsive partner from an Illinois LLC, first review your operating agreement for removal procedures. If none exist, Illinois law allows for judicial expulsion. You may also negotiate a buyout, amend the agreement with other members consent, or dissolve and reform the LLC. For dissolution, file Articles of Dissolution with the Illinois Secretary of State, settle debts, and distribute assets.

Full Conversation

how to dissolve the llc in Illinois
To dissolve an LLC in Illinois, you'll need to follow these steps:
- Check the LLC's operating agreement for dissolution procedures.
- Obtain unanimous consent from all members.
- File Articles of Dissolution with the Illinois Secretary of State.
- Settle debts and obligations.
- Distribute remaining assets to members.
Have you reviewed your LLC's operating agreement for any specific dissolution procedures?
there is no operating agreement
Without an operating agreement, you'll need to follow Illinois state laws for dissolving an LLC. Here’s a quick guide:
- Obtain unanimous consent from all members.
- File Articles of Dissolution with the Illinois Secretary of State.
- Settle debts and obligations.
- Distribute remaining assets to members.
Would you like more information on filing the Articles of Dissolution?