If Ihave a felony conviction, can I file and be approved for an LLC?
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If Ihave a felony conviction, can I file and be approved for an LLC?
Can I potentially be bonded and insured as well?
Asked on October 10, 2011 under Business Law, Nebraska
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
A limited liability company is a form of an entity somewhat similar to a corporation for business purposes as an insulation against personal liability. Whether you have a prior felony convicition or not would have no bearing in preventing you from creating a limited liability company under proper and approved format in the state you wish to create one assuming that state recognizes a limited liability company.
I personally see no reason why your desired limited liability company would be prevented from obtaining insurance just because you have a prior felony conviction. As to being personally bonded, there may be a problem as to this inquiry due to the prior felony convicition. The ultimate decision rests upon the bonding company you make your application to.
Good luck.
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