Hello. Since you and your ex- partner registered the LLC and opened the bank account together, I strongly suggests that you completely start over rather than try to resurrect the current LLC. However, I suggests that you write your ex- partner and advise him or her of your intentions and the fact that you consider the company out of business, and that you will execute the necessary paperwork to voluntarily dissolve the LLC with the Office of the IL Secretary of State. Of course it is a good idea to have your lawyer contact your ex-partner so that he or she will know that you mean business. Before you start over with a new LLC, have a lawyer go over the paperwork and draft a formal partnership agreement with any new partner(s) that you intend to do business with. Will be happy to discuss this further and in more detail.
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The legally correct procedure and safe answer is to dissolve the corporation and start all over since the legacy issues could cause ambiguity regarding ownership interests in the future. However, if costs are of paramount importance, a change of ownership with the secretary of state can be recorded. Then you would update the bank account and obtain a complete release and transfer of all ownership from your ex partner. This is much more messy than just starting over though less expensive. Contact me if you require the specific forms.Ask a similar question