From tobin at pas.rochester.edu  Wed Feb  1 05:09:21 2012
From: tobin at pas.rochester.edu (Tobin Fricke)
Date: Wed, 01 Feb 2012 12:09:21 +0100
Subject: [Organizers.caucus] bonding?
Message-ID: <4F291D61.3000606@pas.rochester.edu>

Dear Organizers,

New York Cooperative Corporations Law requires corporate officers and 
persons handling $1000 yearly be bonded.  My co-op in NY would like to 
be in compliance with this, but we're not sure where to look.  As I 
understand it, this bonding is a type of insurance to cover the 
situation that an officer is found personally liable for some action 
taken on behalf of the corporation.  Is that right?  From whom can we 
purchase such bonding, and how much is it likely to cost?

thank you,
Tobin Fricke


From jim at nasco.coop  Wed Feb  1 09:51:15 2012
From: jim at nasco.coop (Jim Jones)
Date: Wed, 1 Feb 2012 10:51:15 -0500
Subject: [Organizers.caucus] bonding?
In-Reply-To: <4F291D61.3000606@pas.rochester.edu>
References: <4F291D61.3000606@pas.rochester.edu>
Message-ID: <A4A0F8E0-3CE5-4F64-B2D2-8AA89D204606@nasco.coop>

Hi Tobin --

What you're looking for is sometimes called a position bond or a dishonesty bond.  I'm pretty sure you could talk to any insurance agent who deals with corporations to find such a critter.  We used to use Nationwide when I was working for the ICC, but I don't know if they still offer it.  Didn't cost all that much as I remember.  

Is this for Ant Hill, or are you involved with something else now?

Jim Jones



On Feb 1, 2012, at 6:09 AM, Tobin Fricke wrote:

> Dear Organizers,
> 
> New York Cooperative Corporations Law requires corporate officers and persons handling $1000 yearly be bonded.  My co-op in NY would like to be in compliance with this, but we're not sure where to look.  As I understand it, this bonding is a type of insurance to cover the situation that an officer is found personally liable for some action taken on behalf of the corporation.  Is that right?  From whom can we purchase such bonding, and how much is it likely to cost?
> 
> thank you,
> Tobin Fricke
> 
> _______________________________________________
> Organizers.caucus mailing list
> Organizers.caucus at nasco.coop
> http://mail.nasco.coop/mailman/listinfo/organizers.caucus_nasco.coop



From jdj at TruthOverComfort.com  Wed Feb  1 10:00:30 2012
From: jdj at TruthOverComfort.com (jdj at TruthOverComfort.com)
Date: Wed,  1 Feb 2012 12:00:30 -0400
Subject: [Organizers.caucus] bonding?
In-Reply-To: <A4A0F8E0-3CE5-4F64-B2D2-8AA89D204606@nasco.coop>
References: <4F291D61.3000606@pas.rochester.edu>
	<A4A0F8E0-3CE5-4F64-B2D2-8AA89D204606@nasco.coop>
Message-ID: <1328112030.4f29619ee1834@webmail.registerapi.com>

Hi Tobin and Jim:

Would this be the same thing as Directors' and Officers' Insurance (D&O)? Or
might D&O cover this? Or maybe D&O would be overkill...

Hope this helps,
Jim Johnson
Certified Peer Advisor, Democracy At Work Network
http://dawn.coop/users/jim-johnson


Quoting Jim Jones <jim at nasco.coop>:

> Hi Tobin --
>
> What you're looking for is sometimes called a position bond or a dishonesty
> bond.  I'm pretty sure you could talk to any insurance agent who deals with
> corporations to find such a critter.  We used to use Nationwide when I was
> working for the ICC, but I don't know if they still offer it.  Didn't cost
> all that much as I remember.
>
> Is this for Ant Hill, or are you involved with something else now?
>
> Jim Jones
>
>
>
> On Feb 1, 2012, at 6:09 AM, Tobin Fricke wrote:
>
> > Dear Organizers,
> >
> > New York Cooperative Corporations Law requires corporate officers and
> persons handling $1000 yearly be bonded.  My co-op in NY would like to be in
> compliance with this, but we're not sure where to look.  As I understand it,
> this bonding is a type of insurance to cover the situation that an officer is
> found personally liable for some action taken on behalf of the corporation.
> Is that right?  From whom can we purchase such bonding, and how much is it
> likely to cost?
> >
> > thank you,
> > Tobin Fricke
> >
> > _______________________________________________
> > Organizers.caucus mailing list
> > Organizers.caucus at nasco.coop
> > http://mail.nasco.coop/mailman/listinfo/organizers.caucus_nasco.coop
>
>
> _______________________________________________
> Organizers.caucus mailing list
> Organizers.caucus at nasco.coop
> http://mail.nasco.coop/mailman/listinfo/organizers.caucus_nasco.coop
>





From jim at nasco.coop  Wed Feb  1 11:46:52 2012
From: jim at nasco.coop (Jim Jones)
Date: Wed, 1 Feb 2012 12:46:52 -0500
Subject: [Organizers.caucus] bonding?
In-Reply-To: <1328112030.4f29619ee1834@webmail.registerapi.com>
References: <4F291D61.3000606@pas.rochester.edu>
	<A4A0F8E0-3CE5-4F64-B2D2-8AA89D204606@nasco.coop>
	<1328112030.4f29619ee1834@webmail.registerapi.com>
Message-ID: <2D9C6D93-E07A-4118-AF5B-04063BC528BC@nasco.coop>

D&O has more to do with liability.  I think Tobin is looking for a bond for people who handle money (or might mishandle, as the case may be!).  Is that right, Tobin?

Jim


On Feb 1, 2012, at 11:00 AM, jdj at TruthOverComfort.com wrote:

> Hi Tobin and Jim:
> 
> Would this be the same thing as Directors' and Officers' Insurance (D&O)? Or
> might D&O cover this? Or maybe D&O would be overkill...
> 
> Hope this helps,
> Jim Johnson
> Certified Peer Advisor, Democracy At Work Network
> http://dawn.coop/users/jim-johnson
> 
> 
> Quoting Jim Jones <jim at nasco.coop>:
> 
>> Hi Tobin --
>> 
>> What you're looking for is sometimes called a position bond or a dishonesty
>> bond.  I'm pretty sure you could talk to any insurance agent who deals with
>> corporations to find such a critter.  We used to use Nationwide when I was
>> working for the ICC, but I don't know if they still offer it.  Didn't cost
>> all that much as I remember.
>> 
>> Is this for Ant Hill, or are you involved with something else now?
>> 
>> Jim Jones
>> 
>> 
>> 
>> On Feb 1, 2012, at 6:09 AM, Tobin Fricke wrote:
>> 
>>> Dear Organizers,
>>> 
>>> New York Cooperative Corporations Law requires corporate officers and
>> persons handling $1000 yearly be bonded.  My co-op in NY would like to be in
>> compliance with this, but we're not sure where to look.  As I understand it,
>> this bonding is a type of insurance to cover the situation that an officer is
>> found personally liable for some action taken on behalf of the corporation.
>> Is that right?  From whom can we purchase such bonding, and how much is it
>> likely to cost?
>>> 
>>> thank you,
>>> Tobin Fricke
>>> 
>>> _______________________________________________
>>> Organizers.caucus mailing list
>>> Organizers.caucus at nasco.coop
>>> http://mail.nasco.coop/mailman/listinfo/organizers.caucus_nasco.coop
>> 
>> 
>> _______________________________________________
>> Organizers.caucus mailing list
>> Organizers.caucus at nasco.coop
>> http://mail.nasco.coop/mailman/listinfo/organizers.caucus_nasco.coop
>> 
> 
> 
>