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Thread: A Corporation and Lawful Money

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  1. #7
    Quote Originally Posted by Hugh Mannity View Post
    My wife and I are looking into incorporating our medical practice (presently a sole proprietor - not good for protection of assets!). Anything I need to know different relative to establishing a bank account and redeeming lawful money? Or simply do the same as I have done as a sole proprietor relative to lawful money redemption? I am assuming a corporation can redeem lawful money.
    Thank you in advance for any input.
    Greg
    Something else to consider.

    The grant of incorporation comes from the State.
    The State will follow public policy of itself and of the government of the United States.

    Lawful money may be considered as against public policy, but a court would make that determination.

    Also, if you are licensed by the State, you must follow the rules of the State in addition to you being regulated by the police powers of the State.

    You may want to consider creating a private business rather than a public one.
    Since you are involved in medicine, I'm assuming you have degrees, are licensed, and insured. You'll have to get away from that whole game in order to do private business.
    Your profession is considered as regulated. Regulation equals police powers.

    Commerce, the commerce clause, and regulation of commerce by police powers are real drags in many areas.
    Last edited by shikamaru; 12-15-12 at 12:34 PM.

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