Discussion:
Corporate responsibility
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jadam
2008-08-28 03:24:02 UTC
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I have belonged for almost 50 years to a non-profit yacht club that
averages about 100 members. I was secretary of this club for many
years. It was incorporated under the laws of the state in which I
live. Two signatures was required for checks issued. We had
certificates of deposit as an investment with a for profit bank. The
only cash dispursed was small "petty cash" items.

The constitution of the club specified that all officers who were
responsible for handling money be bonded. No problem with the state or
IRS ever on these matters.

The reason for being incorporated was to relieve individual members of
responsibility of liabilities of the club. The club had a "registered
agent" required by the laws of incorporation upon which papers could
be served. We filed federal and state financial reports on a annual
basis.

Why do limited liability corporations (LLC) and limited partnerships
exist? To protect individuals from personal lawsuits.

If AMORC had the business sense of my little yacht club,no problems
such as the ones that supposidly occured would have happened. A more
likely chain of events is that certain people in the grand lodge were
after the hide of GLS. Plain and simple.
Jadam
Julie Altswitch
2008-08-28 03:28:22 UTC
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Amen
Post by jadam
I have belonged for almost 50 years to a non-profit yacht club that
averages about 100 members. I was secretary of this club for many
years. It was incorporated under the laws of the state in which I
live. Two signatures was required for checks issued. We had
certificates of deposit as an investment with a for profit bank. The
only cash dispursed was small "petty cash" items.
The constitution of the club specified that all officers who were
responsible for handling money be bonded. No problem with the state or
IRS ever on these matters.
The reason for being incorporated was to relieve individual members of
responsibility of liabilities of the club. The club had a "registered
agent" required by the laws of incorporation upon which papers could
be served. We filed federal and state financial reports on a annual
basis.
Why do limited liability corporations (LLC) and limited partnerships
exist? To protect individuals from personal lawsuits.
If AMORC had the business sense of my little yacht club,no problems
such as the ones that supposidly occured would have happened. A more
likely chain of events is that certain people in the grand lodge were
after the hide of GLS. Plain and simple.
Jadam
Seawolf
2008-08-28 18:32:20 UTC
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On Wed, 27 Aug 2008 20:24:02 -0700 (PDT), jadam
Post by jadam
A more
likely chain of events is that certain people in the grand lodge were
after the hide of GLS. Plain and simple.
Jadam
That's pretty much the way I originally assessed the situation, but I
really haven't been looking all that long or all that deep. "Coup"
jumped out at me real obvious like as you got to admit that what went
down is pretty classic in that regard. Its real clear when you read
what Mel wrote that she doesn't know much about corporations, tax
laws, etc., as you aptly pointed out in your post, but when she
pointed out they were scamming the employee pension fund, its making
me take a second look. I'm not intrested in hookiing up with any
organization run by ex-cons, cons, or what have you.

Seawolf

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