Question: Four surgeons conducted theirmedical practices through an LLC they created and owned. The LLC obtained a $1.5 million line of credit from Emprise Bank to
Four surgeons conducted theirmedical practices through an LLC they created and owned. The LLC obtained a $1.5 million line of credit from Emprise Bank to fund operations. It was secured by personal guarantees of the four doctors, each in the amount of $200,000, plus an additional joint $375,000. Later, two doctors moved to another practice. Emprise moved to enforce the personal guarantees by the two remaining doctors and won a judgment. The doctors who remained in the LLC contended that they had the right to sue the doctors who left as they injured the LLC. Does Emprise have the right to collect against all four doctors? [Emprise Bank v. Rumisek, 215 P.3d 621, Ct. App., Kan. (2009)]
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