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#2271397 - 06/08/22 08:28 PM Exec Officer Loan to LLC
Wonderofitall Offline
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Wonderofitall
Joined: Sep 2010
Posts: 213
Out West
Exec Officer is 50% owner of LLC and wants a $250,000 line of credit for the LLC. Is the EO limited by 215.5 to $100,000?
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Lending Compliance
#2271443 - 06/09/22 03:42 PM Re: Exec Officer Loan to LLC Wonderofitall
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,533
Bloomington, IN
If he will be personally liable on the loan, or if any of the other members of the LLC are in his immediate family then IMO it would apply.
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