Re: [AGA SC] Insurancer

["S. Hieber" <shieber@yahoo.com>]

Layman's response:

The point of incorporation originally was to insulate the
owners from some but not all liabilities. Actually, a
corporation is a fictive entity created under statute, with
some of the rights of personhood. It's a make-believe
person that fronts for the stockholders who obviously don't
have any idea what the board is doing or why Ford didn't
spend the $8 per Pinto to keep them from bursting into
flames.

A corp also fronts for the Board but the Boards get sued
along with the corps. The stockholders rarely get sued --
although occasionally they are indicted and tried.

sh
--- Kathy Olson <kathy@thekrib.com> wrote:
> 
> Yeah, I don't think we have a lot of liability, but was
> wondering what the 
> insurance was.  I know NEC use to carry it for all the
> clubs.  
> 
> Basically it would be for something going wrong at a
> convention.  Some 
> crazy person like Novak/PetsWarehouse thing deciding to
> go after 
> someone...the thing with Novak is that the person can
> have no grounds but 
> the legal fees are a bit.
> 
> Does incorporation protect the board for the AGA??  I
> wonder?  Anyone have 
> an attorney friend to ask as a curbside...informal never
> hold it too you 
> opinion.


=====
S. Hieber

-  -   -   -   -   -   -   -
Amano Returns
to the AGA Annual Convention
Nov 2004 -- Baltimore

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