bob turner
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- Joined
- Jan 7, 2005
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First, just talking pleasure flying here. The definition of a partnership is “with the intention of making a profit” so using the word partnership is legally not correct - although we refer to our buddies as partners.
Also, LLCs and LLPs are for businesses, not pleasure endeavors. And here in sunny California, a “professional” is anybody with a license, and professionals are liable for their misdeeds.
So does an LLC or an LLP afford any extra protection? My guess is no - and I think that if an LLC is insured, either it must state in writing that the members are individually covered with “duty to defend” or each member needs a renters policy.
Not sure - seeking opinions.
Also, LLCs and LLPs are for businesses, not pleasure endeavors. And here in sunny California, a “professional” is anybody with a license, and professionals are liable for their misdeeds.
So does an LLC or an LLP afford any extra protection? My guess is no - and I think that if an LLC is insured, either it must state in writing that the members are individually covered with “duty to defend” or each member needs a renters policy.
Not sure - seeking opinions.
