Membership interest transfer LLC

This is a discussion on Membership interest transfer LLC within the Business Contracts & Partnerships forum, part of the BUSINESS & FINANCE LAW category; Hi I have an NJ state LLC corporation , of which I am a 20% partner and 80% is held ...

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Old Oct 28th, 2009, 09:24 AM   #1
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Default Membership interest transfer LLC

Hi

I have an NJ state LLC corporation , of which I am a 20% partner and 80% is held by my colleague outside the united states. We have incorporated in Nj and have an operating agreement supporting the 20-80 partnership

Required :

1. I want to move my membership interest to my wife here .

2. I want to retain myself as a member to manage while I do not draw any salary

Questions :

We would perhaps require an addendum to the agreement
Do we also have to file with the secretary of state for change in ownership

Regards

Vineet
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Old Oct 28th, 2009, 04:25 PM   #2
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Default Re: Membership interest transfer LLC

Your operating agreement should allow for transfer of interests --and changes in officers etc.--as long as you follow the procedures listed and usually all others must agree in writing.
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