Re: LLC Bylaws?
From: Tonya Graham (tonya8971yahoo.com)
Date: Fri, 8 Jun 2007 01:13:43 -0700 (PDT)
We are doing a mix at Bear Grass Village (formerly Fordyce Street
Cohousing).  We had a lawyer give us a very standard, boilerplate layout for
our CCR's and bylaws.  Then we collected samples from other communities and
cross checked them against the boilerplate document to see where we wanted
to make changes.  

When we did the actual changes, we did them with track changes on in
Microsoft Word so that the attorney could see what we were throwing out and
what we were adding.  Once the documents were edited by us to our
satisfaction, we sent them back to the attorney (with track changes) to
check to make sure that we hadn't thrown out anything important or added
anything that conflicted with anything else in the document.  

We were able to save quite a bit of money and kept the benefits of legal
counsel.  At this point, it seems to have worked out pretty well. 

Tonya Graham


-----Original Message-----
From: Martie Weatherly [mailto:mhweatherly [at] earthlink.net] 
Sent: Thursday, June 07, 2007 10:40 PM
To: Cohousing-L
Subject: Re: [C-L]_ LLC Bylaws?

Just a word of caution to groups hoping to save on legal fees. We at 
Liberty Village formed an LLP in Maryland and basically wrote the 
document ourselves. 8 years later after a long delay where our community 
is only 50% built and there is still debt to be paid off and a few years 
until we can finish the community, one couple became very disenchanted 
and threatened to sue.

Our document had no specifics for how a partner can leave and our 
attorney basically said it would not hold up in court. Only because we 
were committed to working out our differences with the disenchanted 
couple and only because we have some wonderful members of our community 
who bought them out, have we survived. We are now faced with the 
document expiring at the end of this year and we have to decide whether 
to have a lawyer rewrite it (lots of $) or take a chance again. We also 
have had three deaths in that time, and luckily the estates did not 
pursue being paid back.

It makes those lawyer fees of long ago that we thought were too 
expensive look like they might have been worth it.

Martie Weatherly
Liberty Village

leslie mink wrote:

>Hi, April - we actually haven't filed this yet, but this is what we came up
with.  No legal input on it either.  Like you, I've been hoping for a more
legal document, to go by so we could save on some legal fees.  -Leslie Mink
>
>----- Original Message ----
>From: April <aroggio [at] nycap.rr.com>
>To: Cohousing-L <cohousing-l [at] cohousing.org>
>Sent: Sunday, May 27, 2007 10:28:02 AM
>Subject: [C-L]_ LLC Bylaws?
>
>Greetings all,
>
>First, I apologize - you have probably seen this request too many times to
count.  But I have searched your archives and sent some emails, and haven't
had a whole lot of luck.
>
>We are forming an LLC (we're in New York); we do plan to hire an attorney.
But we're also looking to save money, too, and plan to write up most of what
is necessary for the LLC ourselves.  To that end, we have been waiting
hopefully for Andrew's document library to fill up.  
>
>Our goal to have the LLC in place by the end of June, so we can start
seriously looking at property.  Is there anyone who can offer some advice
about the particulars of LLC formation for the purpose of a cohousing
community - maybe provide a copy of their LLC bylaws to check out?  We
assume that there are specific things that should be included.
>
>Again, sorry for what is probably an annoying, oft-asked question...
>
>April at aroggio [at] nycap.rr.com 
>
>April Roggio
>Capital District Eco-housing
>www.cdecohousing.org 
>or info [at] cdecohousing.org
>
>_________________________________________________________________
>Cohousing-L mailing list -- Unsubscribe, archives and other info at: 
>http://www.cohousing.org/cohousing-L/
>
>
>
>
>
>
>  
>
>------------------------------------------------------------------------
>
>_________________________________________________________________
>Cohousing-L mailing list -- Unsubscribe, archives and other info at: 
>http://www.cohousing.org/cohousing-L/
>
>
>  
>

_________________________________________________________________
Cohousing-L mailing list -- Unsubscribe, archives and other info at: 
http://www.cohousing.org/cohousing-L/



Results generated by Tiger Technologies Web hosting using MHonArc.