Mark,
The LLC ideas actually came from the insurance broker who is affiliated with LOBO. This was not my idea, but I’m following up as the options are slim as you know.
You have pointed out some good data that we should be aware of and I will track this down through a council that is familiar with aviation and California law if we need to go this way. I appreciate the detailed information and the cautions.
Having insurance is one thing, having the insurance cover a loss is another.
Thanks,
Denis
Denis Conkey dconkey@conksite.com 805-402-6197 From: | mark and patricia garrard <mpgarr01@hotmail.com> |
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As I understand it, you & your partner want to insure a Lancair turbine aircraft located in CA. The only available insurer has determined not to do business in that state. You propose forming an LLC in NV (presumably making the A/C an asset of that LLC, at least on paper) in order to get the desired coverage from the company. Presumably the A/C is in CA and you intend to base it there or the insurer would not be balking about doing business in that state. |