RESULTS FOR POST TAG: LLC capital call
Ambiguous provisions may blur line between customary capital call and personal liability of LLC members
Jun. 16, 2011 – Benjamin D. Bruner, Iowa LLC Blog
In Racing Investment Fund 2000 v. Clay Ward Agency, Inc., 320 S.W.3d 654 (Ky. 2010), an LLC creditor attempted to force the LLC to call for capital from the members in order to satisfy the creditor’s judgment claim for unpaid insurance premiums. The creditor’s attempt was based on a capital call provision in the LLC operating agreement.