Florida LLC’s can now prevent members from withdrawing

The new Florida LLC Act was revised this year so that a Florida LLC’s operating agreement can prohibit a member from withdrawing from the company. Withdrawal can allow a member to terminate his or her obligations as a member, which could include obligations to┬ámake capital contributions or not compete with the company’s business. Florida LLCs should consider adding a provision to their operating agreements prohibiting withdrawal of a member. read more