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#853526 - 11/13/07 07:13 PM Right of Offset
ML Offline
100 Club
Joined: Apr 2004
Posts: 220
I've looked through some past threads on this subject, but couldn't find my situation.
We have a customer that has a personal account and two LLCs. The same individual is the signer on all accounts. Can we collect for an overdrawn account from any of the accounts?

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Deposits and Payments
#853552 - 11/13/07 07:40 PM Re: Right of Offset ML
ktac MITCH Offline
Diamond Poster
ktac MITCH
Joined: May 2005
Posts: 1,813
Giant side of TX
My opinion would be No - An LLC is a seperate legal entity from the person, and therefore unless the individual is listed a a co-owner of the deposit account you would have no common ownership & therefore no more right to go after the LLC (a seperate legal entity) than you would to go after someother individuals account (parent of the individual / brother / child / etc.)
_________________________
My opinions are just that, and might be worth what you paid for them.

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#853563 - 11/13/07 07:47 PM Re: Right of Offset ktac MITCH
ML Offline
100 Club
Joined: Apr 2004
Posts: 220
Thank you-

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