The quick and admittedly general answers (because there are exceptions) are: (1) yes, a nonprofit can own a for-profit; and (2) no, a for-profit cannot own a nonprofit, but it can select all of the nonprofit’s board members and thereby largely control the nonprofit. Can a Nonprofit Own a For-Profit? A nonprofit can own all of the ownership interest in a for-profit entity, whether such entity is a corporation or limited liability company. However, there…
It’s Time to Train Up the Claims Staff To assist the insurance industry avoid the tort of bad faith Barry Zalma, Esq., CFE, an insurance coverage and claims consultant, has created a library of insurance claims books and internet based training programs to make it possible for insurers to develop a claims staff of insurance claims professionals. Insurance is a business of utmost good faith. Each party to the contract of insurance must do nothing…
Court Determines Proximate Cause of Damage is Excluded Regardless of the desires of people who buy insurance no insurance policy covers every possible cause of damage to real or personal property. First party property insurance policies insure against the risk of loss to described property by perils insured against. Some policies claim to insure against “all risks” of physical loss but still add exclusions to limit the coverages provided. Others insure against named perils. None…

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