Cohousing-L Mailing List: Re: Corporate Transparency Act

[Sharon Villines (sharon]

> *No. A beneficial owner of a company is any individual who, directly or 
> indirectly, exercises substantial control over a reporting company, or who 
> owns or controls at least 25 percent of the ownership interests of a 
> reporting company. *

I’m not familiar with FinCen but as a general reminder, be careful of changing 
your community to qualify for various financial benefits. When you do this you 
risk losing (1) something unique about your community and (2) a chance to 
enlighten at least one agency about function in more democratic organizations.

That aside, we don’t have all members on the board, but we do assign 
responsibilities to all teams (and the board is a team). In the event of an 
emergency, we do empower a smaller group to act — 3 people with various 
responsibilities. “Emergency" is defined as an immediate danger to life or 
property. 

One of the difficulties of distributed authority and horizontal organizations 
is fast decision-making. There may be no time for a consensus decision on 
whether to call the fire department or not.


Sharon
----
Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org