X-Virus-Scanned: clean according to Sophos on Logan.com Return-Path: Sender: To: lml@lancaironline.net Date: Mon, 24 Nov 2008 06:08:25 -0500 Message-ID: X-Original-Return-Path: Received: from mail960c35.nsolutionszone.com ([209.235.152.150] verified) by logan.com (CommuniGate Pro SMTP 5.2.10) with ESMTPS id 3313622 for lml@lancaironline.net; Sun, 23 Nov 2008 14:07:50 -0500 Received-SPF: pass receiver=logan.com; client-ip=209.235.152.150; envelope-from=rsmiley2@centurytel.net X-Authenticated-User: rsmiley2.centurytel.net Received: from PC294771894831 (d23-72.rb.gh.centurytel.net [69.29.214.72]) (authenticated bits=0) by mail960c35.nsolutionszone.com (8.13.6.20060614/8.13.1) with ESMTP id mANJ7B88008314 for ; Sun, 23 Nov 2008 19:07:12 GMT X-Original-Message-ID: <050D0A3F4C0B4CD28981E955A829CE1C@PC294771894831> From: "Bob Smiley" X-Original-To: "Lancair Mailing List" References: Subject: Re: [LML] Re: Any liability lawsuits? X-Original-Date: Sun, 23 Nov 2008 11:07:05 -0800 MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="----=_NextPart_000_0057_01C94D5B.9E593960" X-Priority: 3 X-MSMail-Priority: Normal X-Mailer: Microsoft Outlook Express 6.00.2900.5512 X-MimeOLE: Produced By Microsoft MimeOLE V6.00.2900.5579 This is a multi-part message in MIME format. ------=_NextPart_000_0057_01C94D5B.9E593960 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable "Does the clock stop when transferred to an LLC which you control?" Nice idea Colyn but I do not know the answer. Technically, legal = ownership has changed but I cannot vouch for the control aspect or the = intent of the transfer. Not being an attorney the following advice is = worth nothing. Look to the intent and purpose of the transfer. Has = control materially changed? Is there a business reason for the transfer? = The answers might reveal that the intent is to abbrogate liability = esposure only but not materially change the circumstances. This = situation might be exposed for what it is. Bob ------=_NextPart_000_0057_01C94D5B.9E593960 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable
"Does the clock stop when transferred = to an LLC=20 which you control?"
 
Nice idea Colyn but I do not know the = answer. =20 Technically, legal ownership has changed but I cannot vouch for the = control=20 aspect or the intent of the transfer. Not being an attorney the = following advice=20 is worth nothing. Look to the intent and purpose of the transfer. Has = control=20 materially changed? Is there a business reason for the transfer? The = answers=20 might reveal that the intent is to abbrogate liability esposure = only but=20 not materially change the circumstances.  This situation might be = exposed=20 for what it is.
 
Bob
 
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