Commercial Borrower (ABC, LLC) where the members of the LLC are other sole member LLCs (A, LLC and B, LLC) for individuals. Our policy states and Reg B allows us to require the members of ABC, LLC to guaranty the debt. Can we go to that next level and require the gtys of Mr. A and Mr. B without documenting that these individuals are directors, officers etc of the borrowing entity?
I know, I know, it sounds like it belongs in my "settle a bet" forum!
We are a Fed bank if there are differing examiner opinions.
Last edited by John Burnett; 05/12/16 05:38 PM.