Legal Question in Business Law in Texas

Subsidiaries of LLC of three equal members vs liability to each member
Currently my LLC has three equal members. If Member A & Member B would like to open a new venture (i.e. rentals properties) but not involve Member C (perhaps he's not interested in this new venture), question, to what degree would C be responsible for A & B's new debt? How can we exclude C? Is it as easy as creating a subsidiary company (My LLC dba A&B Guys)only involving Members A & B? OR...is this too complicated; do we just need to open a new, separate LLC? Also..If this new Rental LLC purchased my current home (I solely guarantee loan payment to the bank) and then rented it back to me, would the other member still be responsible and/or hold interest in my home? Vice versa with placing HIS home in the LLC..Would I be responsible and/or hold interest in his home? thnx.

Asked on 6/04/06, 11:12 am

Peter Bradie Bradie, Bradie & Bradie

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Re: Subsidiaries of LLC of three equal members vs liability to each member

The problems you pose are a bit too complicated to answer here. You'll have to get legal counsel directly to get answers.

Answered on 6/04/06, 1:12 pm

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