Corporate Legal Questions

Not every financial decision requires a board meeting. The necessity for a board meeting to approve financial decisions depends on the company's governance structure, the significance of the decision, and the specific bylaws or operating agreements governing the organization. While significant financial decisions generally require board approval, day-to-day financial management is often delegated to executive officers within pre-approved limits. The specific requirements depend on the company’s governance documents and applicable laws. Boards typically reserve their involvement for strategic, high-impact financial decisions, ensuring that the company's overall direction and financial health are closely monitored... Read Answer

Whether you can work for your LLC while receiving Short-Term Disability (STD) from your primary employer depends on the specific terms of your STD policy. STD Policy: The key factor is the definition of "disability" within your STD policy. It might specify that you cannot be engaged in any work activity (including self-employment) while receiving benefits. Review your STD policy documents carefully. Look for the definition of disability and any clauses regarding work activity during the benefit period. Contact your HR department or the benefits provider. They can clarify the specific terms of your policy and answer your questions about working for your LLC while receiving STD. One alternative is that you can get the copy of your policy and hire our services to review it and go over it with you in a premium consultation to protect you and your job from potential abuse and violations. If you violate the terms of your STD policy by working for your LLC, your employer or the benefits provider might deny or terminate your benefits. You might also be required to repay any benefits received if it's determined you weren't eligible due to working for your LLC. This is why it's best to have a  lawyer review and evaluate your policies in a consultation. Consultations are cheaper and more affordable than to hire an attorney for a full case.  pen_spark... Read Answer

You absolutely need to get incorporated and have insurance. If a child gets injured on one of your outings, you and your fellow coordinators could face personal liability. Trampolines have been know to cause serious injuries and, right now, you NO PROTECTION. If the others refuse, you will have to quit or close things down. Personal liability is no joke. Protect yourself.... Read Answer

the fact the HOA was not legally conducting business will not allow you to opt out. the HOA, was legally operating and your deed almost certainly references the HOA part of the sale. now that it is back operating again, you are bound by the HOA. While it was not legally operating, you could have escrowed your fees as the HOA was not legally operating. Now it is. Probably not the answer you were looking for but it is the answer.... Read Answer

This is not terribly difficult to do but you will want legal counsel to do it. It is always safest in these transactions to enter into a purchase agreement to buy the assets and agree to what, if any liabilities the purchasing NewCo will assume. I hope this helps, feel free to be in touch if I can be of further service.  ... Read Answer

You state that the company is incorporated.  Why then would any of the owners be responsible for any of its outstanding bills?  Have any of you signed personal guarantees?  As long as you operated the corporation properly, for example not commingling corporate money with personal, not paying personal expenses from coprorate funds, etc., the shareholders are not generally liable for the corporation's debts.  If, however, the debtrs you write about are among the few statutory exceptions to this rule, or that the corporation was not operated properly allowing personal liability of itss hareholders, you can't, at this point, protect yourself from the obligation (absent filing bankruptcy), you can only sue the third shareholder for his share of the obligation.... Read Answer

It is not clear what kind of business entity you are involved in from your facts.  However, when it comes to liabilities that you personally guaranteed at the inception of a business, it is highly unlikely that anybody is going to release you from those.  There are numerous other ways to approach this, none of which is likely to get the result that you are looking for... Read Answer

First of all you need to get your terminology straight.  Limited Partnerships have general and limited partners.  Limited Liability Companies can be structured to look like that but there is a Manager and there are members.  Im not sure exactly what you are doing but it sounds like you are trying to do it yourself.  It also feels like you may be treading on thin ice in your business endeavors.  You sohuld seek out competent counsel to advise you before relying on DIY forms.,... Read Answer

You’ve either misunderstood what you’ve read or someone is prancing you.  Your name in caps is just your name.  If you want to create a corporation you’ll have to go through some formalities like filing paperwork and paying fees, and the entity’s corporate status will be indicated by something like “inc.” or “Corp.” at the end of its name. ... Read Answer

When it comes to insurance agreements it is important to know that they are considered one sided and in certain circumstances unfair to the consumer, who is in disadvantageous position, as opposed to the insurance company. Whether a person can sue or invalidate a contract provision depends on whether the provision at issue as included in the insurance contract and whether it was clear, visible and conspicuous. If an insurance company does something the consumer finds unlawful, first it is necessary to review the insurance agreement. ... Read Answer

It depends upon whetehr the debt they are seeking was covered by the settlment agreement.  Consider hiring an experience contract litigator to review the settlement agreement and the debt to see if their collection efforts were justified and whether you have any recourse.  Happy to help.... Read Answer

If you have been overbilled and paid over 10k then this is a simple breach of contract action. Any civil litigator would be able to take it. A note of caution, due to the relatively low value most attorneys would not take this on a contingency basis and would require an hourly fee to file the suit, which could cut into your recovery substantially.... Read Answer

Optum Bank  is part of the United Health Group. As such, they have the right to create their own rules and regulations about how the accounts are used and accessed for use as an HSA. If you do not like the process that they are using, I assume that you are free to close the account and move it to another HSA at another bank.... Read Answer

First off, I'd say that your friend should be seeking the advice if this is important to her.  Without knowing more, I'd say probably nothing she can do. There's no right to be given the same amount of work as others.  Maybe there's some actionable discrimination here (based on race, gender, religious affiliaton) but usually that's not the case and even it were, its difficult to address.  ... Read Answer