Re: [PSUBS-MAILIST] Whooops!

[Jonathan Wallace <jon@weare.nh.us>]

We'd incorporate and only the organization would be liable to any suits, not
the members of the organization.  About the only asset PSUBS would have
is the sub itself.  Perhaps there's some exclusion clause that could be signed
off by all members stating that their estates will not sue ownership or
liquidation
of the sub.

By the way Ken, what is your widow going to prosecute us for?
Jon



Subscuba@aol.com wrote:

> I would be interested.
>
> If I assume the Sub runs about $50,000 US dollars (probably a low estimate)
> then each of the 113 members would contribute about $442 dollars. If only
> half the membership donated the cost would be about $1000. If I knew this
> before I started on my Wet Sub at a much higher cost I would certainly be
> interested. I would still be interested at the above but would want the Sub
> to be in the Caymans or some other like place.
>
> The problem would be the legal aspects. What would be done to protect the
> other members if my widow decided to prosecute?
>
> Ken Martindale