Re: LLC Bylaws? | <– Date –> <– Thread –> |
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/
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LLC Bylaws? April, May 27 2007
- Re: LLC Bylaws? Ellen Keyne Seebacher, May 27 2007
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Re: LLC Bylaws? leslie mink, May 31 2007
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Re: LLC Bylaws? Martie Weatherly, June 7 2007
- Re: LLC Bylaws? Tonya Graham, June 8 2007
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Re: LLC Bylaws? Martie Weatherly, June 7 2007
- Re: LLC Bylaws? David Heimann, June 8 2007
- Re: LLC Bylaws? Tom Hammer, June 10 2007
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