[WSBARP] Choice of entity for operation of Class B well system

[Eric Nelsen]

Clients have a Class B well system and are considering forming an entity to operate the system, hold the bank accounts, buy insurance covering the property, etc.

Existing insurance is a group policy for water systems and requires that any insured entity be chartered as a non-profit organization.

I had been thinking about doing an LLC, but that's inherently a for-profit entity, right? Should I be looking at Ch. 24.06 RCW, and forming a "mutual corporation" since the only benefitted parties are the owners of the system?

Any other alternative entity type?

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

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