Carlos is a member of an LLC along with three others. After one year, despite their best efforts, the business closes and the bank that extended them a loan sues for repayment. The bank may:1. sue the LLC but may not sue Carlos. sue Carlos only if he is a managing member.
2. sue Carlos for the entire amount because Carlos is jointly and severally liable for the loss.
3. sue the LLC but may not sue Carlos
4. sue Carlos for only 25% their loss under rules pertaining to LLCs.
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