Cohousing-L Mailing List: Re: COHOUSING-L digest 590

[Legal-All Lawyers (Salley]

Glen:

Thanks for your response.   The question is whether the additional expense 
and formalities associated with a corporation are worth the protection given 
by corporate "limited liability" of members?

What disasters have/might occur which insurance won't cover?

There is a bill before the Massachusetts legislature which will allow for 
creation of "limited liability partnerships" - I haven't read it yet, but it 
may solve the problem if it gets passed soon enough!

Rowena

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From: cohousing-l
Subject: Re: COHOUSING-L digest 590
Date: Monday, August 28, 1995 1:08PM




 Rowena Conkling asked if any coho project incorporated.

Valley Oaks Village incorporated as a non-profit corporation set up
specifically to develop our project.  We got advice from a good attorney and
went with it.  It has worked out quite well for us and we had no trouble
getting a construction loan.

Hope this helps.

Glen Orcutt
Valley Oaks Village
Chico, CA

(All utilities are in. The roads and the common building slab are going in
next).