Legal Question in Business Law in Michigan

As a Franchise Attorney I can say the following. If the LLC is sued, which hopefully won't happen, all assets of the LLC are liable. These would include cash or cash equivalents that are held by the LLC in addition to physical assets, like equipment, trucks, etc. But to proceed against any assets, the Plaintiff first needs to prove and win their case. Once a judgment is obtained, they can proceed against LLC assets. Even this can be a cumbersome and complicated process. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation