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buy or rent a 2006 182



 
 
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  #1  
Old May 29th 07, 07:08 PM posted to rec.aviation.owning
xyzzy
external usenet poster
 
Posts: 193
Default buy or rent a 2006 182

On May 28, 5:57 pm, john smith
I am not a part-owner in either of the two clubs of which I am a member.
I simply rent the aircraft. All of the aircraft are lease-backs in one
club and the club is incorporated and the corporation owns the other.
There are nine airplanes in the one club and one in the other.


Who owns the corporation? In my club, the planes are all owned by the
corporation, but the corporation is owned by the members as
sharedholders. We have no non-member shareholders.

  #2  
Old May 31st 07, 11:29 PM posted to rec.aviation.owning
john smith[_2_]
external usenet poster
 
Posts: 393
Default buy or rent a 2006 182

In article .com,
xyzzy wrote:

On May 28, 5:57 pm, john smith
I am not a part-owner in either of the two clubs of which I am a member.
I simply rent the aircraft. All of the aircraft are lease-backs in one
club and the club is incorporated and the corporation owns the other.
There are nine airplanes in the one club and one in the other.


Who owns the corporation? In my club, the planes are all owned by the
corporation, but the corporation is owned by the members as
sharedholders. We have no non-member shareholders.


No one owns the corporation, it is a stand-alone entity.
  #3  
Old June 1st 07, 03:54 PM posted to rec.aviation.owning
Matt Barrow[_4_]
external usenet poster
 
Posts: 1,119
Default buy or rent a 2006 182


"john smith" wrote in message
...
In article .com,
xyzzy wrote:

On May 28, 5:57 pm, john smith
I am not a part-owner in either of the two clubs of which I am a
member.
I simply rent the aircraft. All of the aircraft are lease-backs in one
club and the club is incorporated and the corporation owns the other.
There are nine airplanes in the one club and one in the other.


Who owns the corporation? In my club, the planes are all owned by the
corporation, but the corporation is owned by the members as
sharedholders. We have no non-member shareholders.


No one owns the corporation, it is a stand-alone entity.


That defies the legal rules of corporations.


  #4  
Old June 1st 07, 10:13 PM posted to rec.aviation.owning
Gig 601XL Builder
external usenet poster
 
Posts: 2,317
Default buy or rent a 2006 182

Matt Barrow wrote:
"john smith" wrote in message
...
In article .com,
xyzzy wrote:

On May 28, 5:57 pm, john smith
I am not a part-owner in either of the two clubs of which I am a
member.
I simply rent the aircraft. All of the aircraft are lease-backs in
one club and the club is incorporated and the corporation owns the
other. There are nine airplanes in the one club and one in the
other.

Who owns the corporation? In my club, the planes are all owned by
the corporation, but the corporation is owned by the members as
sharedholders. We have no non-member shareholders.


No one owns the corporation, it is a stand-alone entity.


That defies the legal rules of corporations.



I think a not-for-profit can get away with out any stock be owned.


  #5  
Old June 2nd 07, 04:44 AM posted to rec.aviation.owning
Matt Barrow[_4_]
external usenet poster
 
Posts: 1,119
Default buy or rent a 2006 182


"Gig 601XL Builder" wrDOTgiaconaATsuddenlink.net wrote in message
...
Matt Barrow wrote:
"john smith" wrote in message
...
In article .com,
xyzzy wrote:

On May 28, 5:57 pm, john smith
I am not a part-owner in either of the two clubs of which I am a
member.
I simply rent the aircraft. All of the aircraft are lease-backs in
one club and the club is incorporated and the corporation owns the
other. There are nine airplanes in the one club and one in the
other.

Who owns the corporation? In my club, the planes are all owned by
the corporation, but the corporation is owned by the members as
sharedholders. We have no non-member shareholders.

No one owns the corporation, it is a stand-alone entity.


That defies the legal rules of corporations.



I think a not-for-profit can get away with out any stock be owned.

Yes, you're right - brainfart on my side.


  #6  
Old June 5th 07, 04:15 PM posted to rec.aviation.owning
xyzzy
external usenet poster
 
Posts: 193
Default buy or rent a 2006 182


Matt Barrow wrote:
"Gig 601XL Builder" wrDOTgiaconaATsuddenlink.net wrote in message
...
Matt Barrow wrote:
"john smith" wrote in message
...
In article .com,
xyzzy wrote:

On May 28, 5:57 pm, john smith
I am not a part-owner in either of the two clubs of which I am a
member.
I simply rent the aircraft. All of the aircraft are lease-backs in
one club and the club is incorporated and the corporation owns the
other. There are nine airplanes in the one club and one in the
other.

Who owns the corporation? In my club, the planes are all owned by
the corporation, but the corporation is owned by the members as
sharedholders. We have no non-member shareholders.

No one owns the corporation, it is a stand-alone entity.

That defies the legal rules of corporations.



I think a not-for-profit can get away with out any stock be owned.

Yes, you're right - brainfart on my side.


A nonprofit corporation can have shareholders, even if they are called
by a different name, like "voting members." My club does.

Even if the nonprofit doesn't have shareholders, it still has a board
and a method for electing that board. So I rephrase my question for
Mr. Smith: who is the board of the corporation? Who elects them? the
answer to the last question is also the answer, for all practical
purposes, to "who owns the corporation"?

  #7  
Old June 5th 07, 04:40 PM posted to rec.aviation.owning
Gig 601XL Builder
external usenet poster
 
Posts: 2,317
Default buy or rent a 2006 182

xyzzy wrote:

I think a not-for-profit can get away with out any stock be owned.

Yes, you're right - brainfart on my side.


A nonprofit corporation can have shareholders, even if they are called
by a different name, like "voting members." My club does.

Even if the nonprofit doesn't have shareholders, it still has a board
and a method for electing that board. So I rephrase my question for
Mr. Smith: who is the board of the corporation? Who elects them? the
answer to the last question is also the answer, for all practical
purposes, to "who owns the corporation"?


No, the corporation can "own" the aircraft. It is a legal entity. The board
or members "control" the property by controlling the corporation. They "own"
neither the property or the corporation. I've been on the board of two
different NFP organizations. One had only a self sustaining board of
directors. (The BOD elected new BOD members as needed.) The other had both
members and a BOD.

Both of these organizations owned both real and personal property. No member
had any ownership interest in the property.


 




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