On Tue, Jun 17, 2008 at 12:00:18PM -0400, C F wrote: > On 6/16/08, Jay R. Ashworth <[EMAIL PROTECTED]> wrote: > > On Sat, Jun 14, 2008 at 11:13:31PM -0400, C F wrote: > > > > Happens in the commercial world all the time; it's a common way to "get > > > > cash out of the corporation" -- a business's building is owned by the > > > > corporation's owners, and rented to the corporation. > > > > > > This is actually illegal in some states and considered a breach of > > > Fiduciary everywhere. > > > > May be, but I know at least 3 owners of private corporations who are > > doing it, and their auditors seem fine with it. I think that it > > matters whether the corporation is public or not...
> LLCs? No, my assertion was that I believe that 'Steve's assertion that it is illegal and a breach of duty for a corporation's officers to own its real estate and lease it back to the company' may be dependent on whether the company is publicly owned or not. I suspect that there is no breach in the case of a private company, because different fiduciary duties pertain. I'll ask my client who's the ex-president of one of the companies I was talking about. Cheers, -- jra -- Jay R. Ashworth Baylink [EMAIL PROTECTED] Designer The Things I Think RFC 2100 Ashworth & Associates http://baylink.pitas.com '87 e24 St Petersburg FL USA http://photo.imageinc.us +1 727 647 1274 Those who cast the vote decide nothing. Those who count the vote decide everything. -- (Joseph Stalin) _______________________________________________ -- Bandwidth and Colocation Provided by http://www.api-digital.com -- asterisk-users mailing list To UNSUBSCRIBE or update options visit: http://lists.digium.com/mailman/listinfo/asterisk-users
