Chad shows Mark Kohler his LLC paperwork: one sheet in a binder. Mark warns that without proper corporate records, creditors can sue Chad personally and pierce the liability shield. Mark offers an annual cleanup service to file the missing documents and protect his assets.
I can't believe I have to do this.
Hey, how can I help you?
I'm here to see Mark.
Okay. Are you Chad?
Yeah.
All right, have a seat. I'll let him know you're here.
Yeah, hi, Mark.
Chad is here for your appointment.
Okay, Tell him I'll be right there.
Thanks.
All right, I'll let him know.
Chad. Hey. Hey. Ready for your depot? Yeah, I know it's no fun. I'm sorry, bud. Okay. But your LLC is the key issue. Where you got it? Where's your binder?
Binder?
Oh, no, no, don't tell me. What do you got? What do you got? You gotta hurry. They're waiting.
I got it right here for you.
This is all you've got for an LLC? 1 sheet of paper. Okay, so this isn't gonna be good because they're trying to sue you personally and we're trying to have the LLC protect you. Okay. This is not good.
You know you're screwed, right?
Yeah. Let's talk settlement. Oh, just what I wanted to see. Is this the binder?
Yeah.
All right, baby, we're gonn it.
I love it.
You got your binder here?
Yeah, I thought it would help.
Oh, yeah. They're trying to sue you personally. Want to make. When we get in here, this is our get out of jail free card. It's going to walk.
Glad you let me know.
Good to see you. See you. See you in court, People. This is why you got an entity in the first place to protect you personally. In the case of a lawsuit, an LLC or corporation has to have a corporate book. This is what they look like. They have articles, minutes, operating agreement or bylaws, transfer agreements, stock certificates, membership certificates. This protects you personally when there's a problem in your business. If you don't have all these pieces and parts, you don't have an llc. We have a cleanup special every year. Check it out down below. Let's get it tidied up and protect you so you're not going to get into a lawsuit personally. Do not be Chad number one, Sam.
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