Legal Question in Banking Law in Arizona
Corporate LLC
My wife owns and runs an LLC. Today our personal bank, the same bank she uses for her business with different accounts, reached into our personal account and withdrew over $13,000 for settlement on my wife's business account. Doesn't the LLC protect us from having funds withdrawn from our personal account?
Asked on 1/22/07, 10:49 pm
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: Corporate LLC
Depends on what she agreed to in her contracts with the bank. Personal guaranties and the right of the bank to offset all accounts are common arrangements, but without seeing her bank contracts, it is impossible to tell.
Answered on 1/23/07, 6:57 am
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