[ SHOWGSD-L ] Re: The truth
- From: "Gail BAUMAN" <gailbauman1@xxxxxxx>
- To: <ELG440@xxxxxxx>, <showgsd-l@xxxxxxxxxxxxx>
- Date: Tue, 6 Feb 2007 21:17:09 -0600
It's too bad that they couldn't declare the vote invalid and re-vote with this
information.
----- Original Message -----
From: ELG440@xxxxxxx<mailto:ELG440@xxxxxxx>
To: showgsd-l@xxxxxxxxxxxxx<mailto:showgsd-l@xxxxxxxxxxxxx>
Sent: Tuesday, February 06, 2007 9:07 PM
Subject: [ SHOWGSD-L ] The truth
In a message dated 2/6/2007 11:44:46 A.M. Pacific Standard Time,
VPREZHMF@xxxxxxx<mailto:VPREZHMF@xxxxxxx> writes:
Hi Kathy and thanks Dan for laying it out so everyone knows the D&O
coverage so All Directors know they are covered. I hope the whole List
reads Dan's
letter to Kathy so can understand Directors who voted YES,were
misinformed--if
they were using that as an excuse for their vote
Now, some more good news.
After liability is determined, (with the defense paid by our carrier), then
$1,000,000 is available to pay any damages. Then if the million is not
enough,
the assets of our club, would pay damages. I think the reserves are about
$800,000.00. Then after that, the owners of the club, (not the directors)
would be liable for any damages over $1,800,000.00. Since it is not owned,
(no
stock holders) since we are non-profit, any judgment against the GSDCA
over our assets and insurance would be non-collectable.
I can't image any instance, so long as they worked within the by-laws that a
director could have a judgement against them. They could be named in a law
suit, but we have insurance to pay for any defense, and enough to cover any
damages. If a director does what is called an ultra-virous act, (outside
the
by-laws), or violates a law, then our insurance would not cover them. A
criminal act would not be covered by any insurance.
That is probably why our two attorneys had no problem voting NO.
Not that there is anything wrong with that.
Evan
_Asgard German Shepherds_
(http://www.asgardgsd.com/<http://www.asgardgsd.com/>)
http://www.asgardgsd.com/<http://www.asgardgsd.com/>
Where Type Movement and Temperament come together
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POST is Copyrighted 2007. All material remains the property of the original
author and of GSD Communication, Inc. NO REPRODUCTIONS or FORWARDS of any kind
are permitted without prior permission of the original author AND of the
Showgsd-l Management. ALL RIGHTS RESERVED.
ALL PERSONS ARE ON NOTICE THAT THE FORWARDING, REPRODUCTION OR USE IN ANY
MANNER OF ANY MATERIAL WHICH APPEARS ON SHOWGSD-L WITHOUT THE EXPRESS
PERMISSION OF ALL PARTIES TO THE POST AND THE LIST MANAGEMENT IS EXPRESSLY
FORBIDDEN, AND IS A VIOLATION OF LAW. VIOLATORS OF THIS PROHIBITION WILL BE
PROSECUTED.
For assistance, please contact the List Management at admin@xxxxxxxxxxxx
VISIT OUR WEBSITE - www.showgsd.org
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