Removing an LLC member

Document the decision to remove a member as follows. You do not have “buy-out” the member unless specified in the operating agreement.

WHEREAS, John Masters has resigned as Manager and Secretary of the Company; and
WHEREAS, John Masters desires to withdraw as a Member of the Company; and
WHEREAS, John Masters has delivered a letter to the Members giving up all rights to the assets and future earnings of the Company;
IT IS THEREFOR
RESOLVED, that John Masters resignation is accepted.
RESOLVED FURTHER, that the Company agrees to purchase John Masters’ twenty percent (20%) interest in the Company for a consideration of $2,500.
RESOLVED FURTHER, that the Treasurer is directed to issue a check in the full amount of $2,500 to John Masters upon receipt of his ownership certificate.
RESOLVED FURTHER, that Mary Jones is hereby appointed as Secretary of the Company until her successor is voted in at the next annual meeting and qualifies.