Written Consent of Members to Expel Member from LLC

Document Sample
Written Consent of Members to Expel Member from LLC Powered By Docstoc
					SpadacciniUltimateLLC AppA.qxp     11/10/2010      2:34 PM    Page 233




                                                                                            THE ULTIMATE LLC COMPLIANCE GUIDE


                                 LLC Form 8: Written Consent of Members to Expel Member from LLC


               WRITTEN CONSENT OF MEMBERS TO EXPEL MEMBER FROM LLC
               The undersigned members of 17 REASONS, LLC, owning of record the number of shares entitled to vote as
               set forth, hereby consent to the following company actions.
               The purpose of this consent is to expel member David Canaan from 17 REASONS, LLC. The standard by
               which a member can be expelled from 17 REASONS, LLC is set forth in the operating agreement of the LLC:
               A Member may be expelled from the Company upon a vote of two-thirds majority in interest of the Com-
               pany Membership. Such expelled Member shall have the rights of a transferee under this Agreement and
               the remaining Members shall be entitled to purchase the expelled Member’s Membership Interest in accor-
               dance with this Agreement.
               Three of the four members have agreed that Mr. Canaan should be expelled from the LLC. As such, three-
               fourths of the LLC membership meets the requirements of expulsion set forth in the governing documents.
               The governing documents do not require that the voting members set forth any cause or reason to expel a
               member. Nevertheless, the undersigned members wish to expel Mr. Canaan for the following reasons:
               *Mr. Canaan has not met his employment responsibilities with the LLC; he has preferred to devote his time
               to other businesses.
               *Mr. Canaan failed to make a required capital contribution.
               This written consent is effective as of the date set forth below.

               __________________________
               John Farnsworth
               __________________________
               Lisa Knowles
               __________________________
               David Stapleton




                                                                                                     SUPPLEMENTAL LLC FORMS• 233

				
DOCUMENT INFO
Shared By:
Tags:
Stats:
views:37
posted:10/4/2012
language:
pages:1