Legal Question in Business Law in Kansas
I am a member of an LLC. The LLC has it's own checking account, however, sometimes the members purchase materials via their personal cash or credit cards and are reimbursed by the LLC later. Does this activity reduce the personal liability protection provided by the LLC?
Asked on 1/29/13, 1:25 pm
1 Answer from Attorneys
Anthony Smith
LawSmith
Merely getting reimbursed for purchasing items for the business does not nullify corporate veils, if the company is solvent.
Good luck
Answered on 1/31/13, 11:10 am
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