Can a member partner of an LLC open a bank account under the LLC without notifying other member and giving them access to the account?

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Can a member partner of an LLC open a bank account under the LLC without notifying other member and giving them access to the account?

Asked on September 9, 2012 under Business Law, Texas

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Under the laws of all states in this country a member of a limited liability company (LLC) is entitled to open up a bank account in the LLC's name and without giving any other member of such prior knowledge or access to the account.

If LLC assets are in the account as you have written, the under members of this entity are entitled under the laws of all states in this country to access to the account if need be. From what you have written, I suggest that you may wish to consult with a business attorney about your inquiry further.


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