Another pilot grounded by insurance
"Roger Long" wrote in news:w5gNf.53$Da7.24
@twister.nyroc.rr.com:
I'm the maintenance officer of the club. I joined when the club was
run by a cabal of junk men who managed it like those people who search
for car inspection stations that will just slap a sticker on without
checking anything. Looking back, I would never have set foot in that
plane knowing what I do now.
I educated myself and the club and fought a few years of bitter
political battles after which we started rebuilding things.
Technically, I'm the owner, along with 20 odd other people, of the
non-profit that owns the aircraft but we are all considered "owners"
by the FAA and insurance company. As the one primarily responsible
for the restoration of the aircraft, and it being the only plane I fly
(or can afford to fly), it does feel like "my" plane.
Since I'm hemmed in by by-laws that take months to change, the needs
of other members, state statutes governing non-profits, and very
limited financial resources for someone involved in aviation, I
haven't got a lot of wiggle room.
I'm going to call AOPA today and see if they have any ideas.
What state are you in??? if you are in Texas or Florida, the worst a
lawsuit can really do is put a ding in your credit rating, you are NEVER
"required" to pay (talking an individual here, not a corporation),
unless the creditor files a separate lawsuit to force you into
involuntary bankrupcy (almost unheard of) and even THEN your homestead
is exempt ALL retirment funds (401K,IRA, 529education plans, annuities)
are exempt... dunno about other states, some can actually garnish wages,
some are simular to TX and FL....
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-- ET :-)
"A common mistake people make when trying to design something
completely foolproof is to underestimate the ingenuity of complete
fools."---- Douglas Adams
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