With the rise of environmental lawsuits under CERCLA, a key issue has come to the fore: do CGL insurance policies cover the liability costs, which CERCLA brings? Predictably, courts have answered this question both ways. However, the clear trend is that CGL policies do cover the costs associated with CERCLA. (It must be remembered that an insurer’s duty to defend is broader than the duty to indemnify. SeeAnnotation, “What Constitutes ‘Suit’ Triggering Insurer’s Duty to Defend Environmental Claims–State Cases,” 48 A.L.R. 5th (1997). Thus, an insurer may have to defend a CERCLA suit on behalf of an insured, but not pay Read the rest…
A general partner in a limited partnership (LP) does have a fiduciary duty to the limited partners in the LP. Various statutes leave no doubt of this conclusion.
NRS 88.455(1) reads:
Rights, powers and liabilities.
- Except as provided in this chapter or in the partnership agreement, a general partner of a limited partnership has the rights and powers and is subject to the restrictions of a partner in a partnership without limited partners.
What this means is that a general partner in an LP is treated under the law the same as a partner in a general partnership. Under Nevada’s partnership Read the rest…
Learn How to Prevent Losing
Your Equity in Your Real Estate!
Will a Lawsuit Cause You to Have to Start Over?
Over 38,850 Did Just That Last Year!
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-Details in this Special Report-
By Nevada Corporate Planners, Inc.
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The following represents an example of you (and your spouse) owning real property which is titled in your name(s) personally (rather than in the name of a business entity) and your desire not to risk losing Read the rest…