Removing a Member from an LLC in Missouri: A Comprehensive Guide

In Missouri, Limited Liability Companies (LLCs) are becoming more and more common among entrepreneurs and small businesses. A member of your LLC might eventually need to be fired for a variety of reasons, including retirement, death, or misbehavior. We’ll go over the procedures in this post for removing a member from an LLC in Missouri.

First and foremost, it’s crucial to read through your LLC operating agreement to comprehend the procedure for terminating a member. The procedure for terminating a member is described in the operating agreement, along with other rules and regulations for the LLC. If this isn’t covered by your operating agreement, Missouri law offers a procedure for member removal.

The other LLC members will vote to expel the problematic member as the first step. Your operational agreement should govern the voting process. Unless otherwise specified in the operating agreement, removal of a member is subject to a majority vote in Missouri.

The LLC must submit an Articles of Amendment to the Missouri Secretary of State following the voting. The name of the removed member, the date the removal took effect, and the explanation for the removal should all be included in this document. An approved LLC member must sign the paper before it may be submitted to the Missouri Secretary of State for filing.

If you’re wondering how long LLCs last in Missouri, you should know that they have a perpetual duration, which means they can endure forever. However, in order to keep their legal existence and prevent dissolution, Missouri law mandates that LLCs submit yearly reports to the Missouri Secretary of State. The LLC could be dissolved if the annual report is not submitted.

Depending on the sort of LLC you want to form and the services you need, the cost to do so in Missouri varies. The cost to file articles of incorporation is $50, and the cost to file an annual report is $45. If you engage a lawyer or a registered agent, you can also be required to pay extra fees.

Creating different LLCs under the protection of a single LLC is possible in Missouri with a Series LLC. Operating separately, with its own assets and liabilities, each LLC in the series. For entrepreneurs who run many enterprises, this structure offers more freedom.

Last but not least, you must submit a Statement of alter of Registered Agent and/or Registered Office to the Missouri Secretary of State in order to alter the registered agent address in Missouri. This document must be signed by an authorized representative of the LLC and include the name and address of the new registered agent. There is a $25 filing fee for this document.

Finally, in Missouri, dissolving a member of an LLC entails adhering to the rules set forth in your operating agreement or state legislation. In order to keep their legal standing, LLCs must also submit yearly reports to the Missouri Secretary of State. Depending on the type of LLC and the services required, forming an LLC in Missouri might be expensive. In Missouri, a Series LLC enables several firms to function under a single LLC. The Missouri Secretary of State must receive a Statement of Change of Registered Agent and/or Registered Office before the registered agent address can be changed.