Closing on a Property with a single member of a Multi-Member LLC

[Peter Lysiak]

My partner and I have a 50/50 split in a multi-member LLC and have increased our number of closes year over year. We don't reside in the same town, let alone state, and have been closing in a single location (this means traveling for one of us). As we scale the business, we realize this is not sustainable. Our go-to bank informed us that we need an updated operating agreement in order to have a single member of the multi-member LLC sign the closing documents. Does anybody have experience with this, and if so, how have you dealt with this in the past as it relates to the legal documents?