|securities||<– Date –> <– Thread –>|
|From: NKaten947 (NKaten947aol.com)|
|Date: Fri, 26 Sep 1997 22:20:51 -0500|
I just got back from talking to two lawyers today. They asked me how cohousing groups handle LLC's and securities. It is my understanding that we are in possible violation of security laws when the original members ask people to put in money towards a unit to become members, especially when they don't have a significant development plans to disclose to prospective members. We are in the state of Washington. .. Has anyone had to address this issue in Washington ? One lawyer suggested we talk to a securities lawyer in Seattle and the state Attorney General's office. The lawyer asked if we would be a 504 or a 505 tax (code?) Thank you. Kate N. Nichols
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