Corporations — piercing the veil

Posted July 5, 2022 11:16 AM

Where a party seeks to hold the member-managers of an LLC liable for the debts of the LLC, the articles of organization must include a provision allowing for this or the member-manager must consent in writing.The 4th District Appellate Court affirmed the decision of McLean County Circuit Judge Rebecca S. Foley.Hundman Management LLC (Hundman LLC) is a member-managed LLC established in 2003. In 2004, the operating agreement was amended to allow Laurence F. Hundman (Laurence) to sign notes on behalf of the company. Laurence …

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