Chapter 12
Doing the Membership Shuffle
IN THIS CHAPTER
Understanding the basics of transferring membership
Setting up your operating agreement to manage transfers
Creating individual buy-sell agreements
Finalizing and amending your operating agreement
In Chapter 9, I explain the basics of an operating agreement and help you start creating your own. In Chapter 10, I go over how to choose your partners (carefully!) and structure your partnership. In Chapter 11, I show you how to bring on investors. After reading these chapters and putting your plan in place, unfortunately sometimes things just don’t progress as intended. In this chapter I show you what to do when your plans go awry and a partner needs to go. I also show you how to finish your operating agreement and how to amend it when needed. Think of this chapter as your insurance plan: You structure your company and your operating agreement now in a way that allows you to get out of future problem situations with your partners pain-free.