Nope, i've done it before when i had to take a break from game, just send in a ticket to the GM's stating you are current guild leader and your toon name, and which toon/person you are intending to pass it to, usually that person is Rank 2 ( Unless its an alternate of yours or some other reason), and the will switch you to a rank 2, and the other person/toon to Rank1/guildleader.