Re: Railroad Men's Club

Bill Parks

On Sun, May 2, 2021 at 10:14 AM, Doug Paasch wrote:
This is pure guesswork but I heard somewhere long ago that all members of a club are considered "owners" of the club and can be held personally liable for any actions against the club, such as injury lawsuits, etc.  Perhaps by incorporating the club, it was now a corporate entity and members are now just stockholders rather than actual owners of the club in order to hide behind a corporate shield???  I could be totally off here though
Doug - 

That is probably why the incorporated.  Even today non-profits incorporate (NMRA for an example) thus providing a legal shield for the members (among other reasons).  It is possible 100 years ago, Florida required stock to be issued for any "corporation".
Bill Parks
Cumming, GA
Modelling the Seaboard Airline in Central Florida

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