From: BRUNNERPS@aol.com
Message-ID: <77.d341aa0.27627f11@aol.com>
Date: Fri, 8 Dec 2000 13:14:41 EST
Subject: Re: liability
To: lancair.list@olsusa.com
Reply-To: lancair.list@olsusa.com
Mime-Version: 1.0

          <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>>
          <<  Lancair Builders' Mail List  >>
          <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> 
>>
I spoke with an aviation law attorney regarding what the best way is to 
handle the liability of manufacturing your own craft.  He informed me that it 
doesn't matter how you handle the title to the aircraft -- whether in your 
name, a corporation, or a trust.  You MUST obtain product liability 
insurance.  He suggested obtaining a 5 million dollar policy.  He has worked 
with a company called Empire out of Cincinnati, Ohio in the past and says 
they are good.  

If you try to hold title in a corporation or a trust without the insurance, 
and you try to wiggle out of liability through the trust or corporation, once 
discovery was done, it would be easily discovered that you held the plane in 
either the trust or corporation to shelter other assets.  That is why the 
product liability insurance is a must. 

Also, he did not have it in front of him, but he believed the statute of 
repose - or time that you would not be liable after the manufacturing of a 
plane -- is 18 years.  Hope this helps all.

Susan Brunner
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
LML website:   http://www.olsusa.com/Users/Mkaye/maillist.html
LML Builders' Bookstore:   http://www.buildersbooks.com/lancair

Please send your photos and drawings to marvkaye@olsusa.com.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>