Re: getting money up front
From: Ann Zabaldo (zabaldoearthlink.net)
Date: Mon, 8 Feb 2010 14:55:18 -0800 (PST)
In re: pooling funds.

You can always create an LLC or LLP and fund the entity w/ no SEC interference. They are very easy to set up. You can do it in basically 15 minutes through Harvard Business Services, Inc. -- google their website.

The company will register your name, incorporate you in the state of your choice (choose DE -- no state taxes!) and send you written By- laws and Articles of Incorporation. They'll even find you a Registered Agent -- you need someone in the state in which you incorporate to act as the official legal contact for the entity.

Costs about $500.00.

Boom.  You're done!

And just ONE person can do this.

When you move in -- transition the LLC or LLP to the Homeowner's Assn'.

Best --

Ann Zabaldo
Takoma Village Cohousing
Washington, DC
Principal, Cohousing Collaborative, LLC
Falls Church VA
703 663 3911

On Feb 8, 2010, at 5:35 PM, <vandeist [at] msn.com> wrote:


Oops.  I thought that it was Lancaster, PA.

--------------------------------------------------
From: "Matt Lawrence" <matt [at] technoronin.com>
Sent: Monday, February 08, 2010 5:26 PM
To: "Cohousing-L" <cohousing-l [at] cohousing.org>
Subject: Re: [C-L]_ getting money up front


On Mon, 8 Feb 2010, vandeist [at] msn.com wrote:


By pulling your money, have you violated any Security & Exchange
Commission
(SEC) regulations?  If people without a history together pool their
funds,
the SEC interprets that as a security. Did your group members have an extensive personal/business history with one another? Are you an LLC or incorporated? Did you create a security? Please tell. We have avoided pulling our funds, because we're new to one another as a group and didn't want to run afoul of the SEC. Now we're considering creating a security.
Van Deist    Venice, FL

Why should they care? They aren't governed by American laws, this is a
Cohousing group in the UK.

-- Matt
It's not what I know that counts.
It's what I can remember in time to use.
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