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If 4 partners create an LLC and one of the partners forms a different additional LLC and doesn't pay his loan can the loan company go after the four partner LLC for money?
Wiki User
∙ 15y ago
The definition of an LLC is a limited liability corporation. And as such each partner has a very limited liability to the actions of other partners. If a scam is involved then an investigation will be launched into who was involved but as far as financials go I believe that the company will take the hit on a defaulted loan and not the partners own pockets.
Wiki User
∙ 15y ago
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