Re: Re: Membership sale agreement questions
From: Stephen Hawthorne (hawthornacpub.duke.edu)
Date: Mon, 18 Apr 94 13:20 CDT
Lynn:
We incorporated as Blue Heron because on advice of atty we didn't want to
be on the title chain as individuals.  If there is an environmental
cleanup ordered on the land at some date, we would be liable to the extent
of our assets as individuals for the cleanup if we owned the land as a
partnership.  So we set up a simple corporation for developing the land. 
Our names as individuals do not appear in the title chain, so any
liability will be contained by the corporation and will be limited to the
extent of the assets of the corporation.

We've been dealing with the Self-Help Credit Union in Durham. and they
take us quite seriously, and are starting to deal with the Nat.
Cooperative Bank in Wash, DC.  Them too.  We've dealt with them because
more traditional and conservative bankers don't understand what we are
about, and so have a hard time, understandably, taking us seriously.  But
then I don't take them very seriously either.

Stay in touch,

Stephen at Blue Heron

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