===========Question: I am the managing member
of an LLC in New Jersey and have a question concerning other members of
the LLC. Currently I have two members other than myself of my LLC and
would like to know if I would be able to remove them from the members
list without any repercussion from the members. Do I need a written
consent that they acknowledge that they are being taken off or can I
just remove them and notify them of it at a later time? There has been
no signed agreement between me and the other two members concerning the
LLC's practices, division of clients or division of profits. The other
members and myself are not seeing eye to eye and I would like to take
on a new member and remove the other two...is this possible?
===========Reply: Yours is a typical situation when people try to form
businesses without the appropriate legal help. Unfortunately, you do
not have a written Operating Agreement. This means that the terms of
your LLC agreement are "oral." It does not mean that you have NO
agreement. You can not remove the other members except under agreed
terms or by law. You must contact a business lawyer immediately!
Call me
at (856)
665-2121 today!
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