Posted by Bob Oszman on June 05, 2006 at 16:08:14:
Do you know the definition of the word assanine?
answer)-- I will give her face a two and her ass a nine. keep it real my brotha from anotha motha!!!
Who should “run” your corporation… - Posted by jj_investor1
Posted by jj_investor1 on February 26, 2004 at 18:14:18:
Just a quick question.
Why would you start a corporation, LLC, or anything else with anybody but yourself as the President/Principal of said entity?
Wouldn’t you in essence be handing over control of your assets to someone else?
For instance I create a Corporation called DoWeCheatumNhow Inc. I name Bill Bronchick as the President on the articles of incorporation. I then deed a property on 100 Oak St into the corporation. Couldn’t Bill deed that property out by just bringing the Articles of Incorporation to a title company and selling to Mr Shark Investor. Thereby collecting a nice check on my property? How could I stop this?
And if this is possible, how would you create a corporation in a full disclosure state like Arizona where I could hide the fact that I am in fact the owner of said corporation?
Thanks,
JJ
Re: Who should “run” your corporation… - Posted by Garrett Sutton
Posted by Garrett Sutton on February 27, 2004 at 09:50:11:
You raise some good points. We have clients that prefer to use a nominee and we assist them, but only in certain carefully controlled situations. First, the nominee is bonded and is not informed of the entity’s holdings. The nominee does not sign on any bank accounts. If property is held in a LLC or LP (remember not to use a corporation) the nominee either signs the deed that we present, or grants a power of attorney to the client’s lawyer to sign the deed. Can we guarantee with 100% certainty that nothing bad will happen? Of course not. We’ve never had a problem in over a decade, but anything can happen. The question is whether this slight risk is worth the privacy you seek to achieve. It is a judgment call on your part. Good luck, Garrett
Re: Who should “run” your corporation… - Posted by jj_investor1
Posted by jj_investor1 on February 27, 2004 at 12:37:49:
Let me ask then. Ok, I set up the President as a nominee, bonded and everything. How would I personally be affiliated with the company? I wouldn’t be a principal as that would show in the articles of incorporation. I would have to control the nominee, I understand that. But, how would I ensure control of the nominee, control of the corporation, and control of the funds. What would stop the president from incurring debt or liabilities? Would the nominee look any different on the articles of incorporation or the filings? Or would they look like a normal president as in any other corporation?
If I live in Arizona and I have a LLC in Nevada where that information is private, but I do business in Arizona. Wouldn’t I have to file as a foreign corporation, thereby nulling out any privacy that my Nevada corp offered? I seem to recall Bronchick talking about this at one point.
Re: Who should “run” your corporation… - Posted by Jess DiMambro
Posted by Jess DiMambro on April 09, 2004 at 16:02:49:
Please contact me on information on the steps of running a corporation? We have been in business for 4 months and running in to situations on partners wanting a piece of my company. How do I go about all this. Please get back to me asap…
Thank you
Jess DiMambro