I am the single member of an LLC formed solely to make a loan to a family member. Payments will be made to the LLC. Can I simply endorse the checks to myself, or will I have to open an account in the name of the LLC and deposit the check there?
That's a question you'll have to pose to your bank. Its policy may be to require that a separate account be used. Given the fact that you are the only member of the LLC, the bank might agree to allow you to endorse the checks first to yourself and then to them, as you have suggested, but the only way to find out is to ask. The bank might easily be convinced that if the LLC will dry up and go away after the loan is paid off, it won't make sense to set up a separate account.
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That's a question you'll have to pose to your bank. Its policy may be to require that a separate account be used. Given the fact that you are the only member of the LLC, the bank might agree to allow you to endorse the checks first to yourself and then to them, as you have suggested, but the only way to find out is to ask. The bank might easily be convinced that if the LLC will dry up and go away after the loan is paid off, it won't make sense to set up a separate account.