If an LLC is the legal owner of your plane and you have a claim....

[Ed_Wischmeyer]

The RV-9A was damaged with soot and corrosive gases from a fire in a T-hangar at the other end of the building. The insurance adjuster was a great guy (EAA Insurance Plan), but there was a slight kerfuffle when time came to write the check.

With the LLC being the owner, I had to establish that I was, in fact, the entire LLC. I didn't have enough paperwork to establish that right away, and it took some doing to persuade the underwriter to issue payment to me. (I don't blame them, they're just dotting the i and crossing the t.)

Just a heads up to make sure that your LLC paperwork is completely in order.

 

[krhea]

LLC

Sort of same thing happened to me, bank wouldn't deposit check cause account and check not exact same. Would have to have a business account titled in LLC to cash check. Found my Amerprise Investment advisor could deposit the check and xfer the funds to my bank. No longer have in LLC. Not sure it was worth the trouble after all.

Keith Rhea
Rv7
2024 Donation