How to Change Ownership of an LLC

If you are changing ownership of your LLC, you may be wondering how to do this. It’s not like a corporation where you have stock and on the back of that certificate you endorse it and say who’s going to and record that information in the stock ledger, maybe subject to some kind of outside contract like a shareholder agreement.
Instead, with an LLC, the ownership is set forth in a contract between the members. That agreement is called a Limited Liability Company Operating Agreement. In order to change the ownership, we can help you prepare an amended and restated Limited Liability Company Operating Agreement.
If you add additional members, each time you add Members you should amend that Operating Agreement. Thus you have a First Amended Agreement when you change members once, you have a Second Amended Agreement when you change it again, and so on.
We can prepare an amended and restated Operating Agreement for you. We also prepare a resolution from the existing members saying who the current owners are in what percentage. Then the current members sign off transferring interest to the new members. That is the “hand off” between the current members and the new members. It also lists the consideration paid, which is the dollar amount paid for that transfer of ownership. Part of the benefit of using IncNow is that we can prepare an Amended Operating Agreement for you along with the resolution for only $250. For more information, visit our website: incnow.com/blog/2016/05/05/how-to-add-or-remove…