This one has me stumped
We have a recent loan structured like this with legal entities as member, managers within a LLC

A-B LLC,
a Va. limited liabilty company

By: A-B-C LLC
a Va limited liability company, its Sole Member

By A-B-C-D Inc
a Va. corporation its manager


by _____________________
George Bush, President


Is just A-B LLC, the customer or are the other two
A-B-C LLC, A-B-C-D Inc also considered ?

B. We had another Loan with three LLC's as borrowers. That was clear to me that each LLC is a customer


Thanks for any help you can provide.

At our bank we would have required documentation on all three entities. We are very thorough on the lending side. Afterall - we are giving them money.

Ben - From my AIB Law & Banking text: Owners of LLCs are called members. Members often operate the LLC themselves, or they may delegate that responsibility to managers...

...State law dictates the formation of an LLC...an LLC is created by filing articles with the state. Often an LLC will have an operating agreement...that sets forth how its business will be conducted.

So, if I'm understanding this correctly, A-B is the customer, but A-B-C-D is the "person" opening the account. If A-B is registered with the state (has a legal identity)and can furnish ID, then it is the customer. If A-B does not have a formal legal identity, then A-B-C-D is the one to CIP, but I would be very surprised (and cautious) if the latter were the case.