Legal Question in Business Law in Arizona

If I have a LLC business bank account and have a financial judgement put against me personally can they go into my business account and take the money out of there?

Asked on 6/27/10, 10:33 am

2 Answers from Attorneys

Kevin B. Murphy Franchise Foundations, APC

Any attorney will say a review of all facts, documents, etc. is required. After that, a personal consultation is needed. If you followed all LLC formalities, it should remain separate. This is not a simple bulletin board type question. Consult with an attorney in your area for specifics.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

Read more
Answered on 6/28/10, 7:00 am
Donald W. Hudspeth The Law Offices of Donald W. Hudspeth, P.C.

Assuming there is no commingling of personal and LLC funds, the judgment is against your personal assets only, which includes your ownership interest in the LLC. They might be able to take possession of the percentage of LLC assets you own, which may include the account, possibly using a charging order against the account.

Read more
Answered on 6/29/10, 4:45 pm

Related Questions & Answers

More Business Law questions and answers in Arizona