On 8/14/06, Rob Lembree <[EMAIL PROTECTED]> wrote:
I'll point you to this, and then await Ed's input:http://en.wikipedia.org/wiki/Piercing_the_corporate_veil
My understanding of Jim's comments was, essentially, that: (1) Corporations are expected to have insurance (2) Not carrying insurance automatically makes "the board" guilty of negligence (3) Therefore, if we incorporate and don't carry insurance, we are not gaining any liability protections (4) Insurance is expensive (5) Therefore, it may not be worth it to incorporate Jim, please let me know if my take on your comments is wrong. I'm not even going to try and evaluate Jim's comments for correctness. My understanding of law is very limited, but I do know that speculations just confuse things. Perhaps the most useful things I know about law are: A. Law doesn't have to make sense B. Law doesn't have to be fair (These rules extend outside law, too. One can s/Law/Life/ with a fair degree of accuracy.) -- Ben "IANAL" Scott _______________________________________________ gnhlug-org mailing list gnhlug-org@mail.gnhlug.org http://mail.gnhlug.org/mailman/listinfo/gnhlug-org
