Risky Business

Wastewater Discharge Violators Be On Alert!

Posted by Jamie Modicue on Feb 7, 2014 4:23:50 AM

February 6, 2014. The EPA is waiting to pounce! The U.S. District Court in Omaha, Neb., has ordered Stabl Inc. to pay a $2,285,874 civil penalty for violations of the Clean Water Act (CWA) and the Nebraska Environmental Protection Act at its Lexington, Neb., rendering facility, EPA Region 7 announced.

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Topics: Risk Manager on Your Side, Real Estate News and Insights

Business Property Tax Credit

Posted by Jamie Modicue on Jan 9, 2014 9:33:54 AM

January 9, 2014. In 2013, Governor Branstad signed into law legislation establishing a Business Property Tax Credit (BPTC) for qualifying commercial, industrial or railway property in Iowa . Applications must be filed in the assessor's office by January 14, 2014, for the first year application and tax credit. Any forms received after this date will miss the credit for the first year. Once the BPTC is assigned, property owners will not have to refile for it, unless there is a change in the business. The deadline for refiling, if required, is March 15, 2014, and each year thereafter, for credit on taxes payable 2015-2016, and thereafter. To apply and qualify for the tax credit, you must certify in writing that the property is not rented or leased to low-income indviduals or families. Also, your property cannot be a mobile home park, manufactured home community, land-leased community, or assisted living facility as defined under Iowa law, or used for human habitation containing three or more separate dwelling units. Would you like more information? Contact Goosmann Law Firm at info@goosmannlaw.com or call 712.226.4000.

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Topics: Business News and Insights, Risk Manager on Your Side, Real Estate News and Insights

Contracting Parties- Managing the Risk Between Them

Posted by Jamie Modicue on Oct 3, 2013 6:41:13 AM

October 3, 2013. How to properly manage risk between contracting parties is important. The purpose of providing for an additional insured under liability coverage provisions is to protect the rights of another party that might become legally liable for the actions of the named insured. For instance, a landlord might become entangled in a lawsuit caused by the actions of his tenant. By naming the landlord as an additional insured, the named insured extends coverage, especially defense costs, to the landlord. The tenant's insurance company would have to defend both the named insured and the additional insured. The owner of a premises who hires contractors to perform work on the property should require the contractor to provide liability insurance naming the property owner as an additionally named insured. If an accident occurs resulting in injury or death, the contractor's insurance coverage will also protect the property owner's liability exposure up to the limits of that policy. For more information contact the Goosmann Law Firm at info@goosmannlaw.com or by calling 712.226.4000.

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Topics: Business News and Insights, Risk Manager on Your Side, Real Estate News and Insights

Transfer on Death Act

Posted by Jamie Modicue on Sep 6, 2013 9:57:39 AM

September 5, 2013. The Nebraska Uniform Real Property Transfer on Death Act was signed by Nebraska's governor on April 5, 2012, and became effective January 1, 2013, for deaths occurring on or after that date. The Act is codified at Neb. Rev. Stat. §§ 76-3401 to 76-3423. A Transfer on Death ("TOD") Deed transfers property to one or more beneficiaries effective at the transferor's death. In order to execute a TOD Deed, the deed must be signed by the transferor(s) or a person in the transferor's presence at his or her direction. In Nebraska, the deed must be signed by two disinterested witnesses and all three signatures must be notarized. During the life of the owner/transferor, a TOD Deed does not affect the owner's right to transfer or encumber the property. The ability to use a TOD Deed to assist in estate planning is dependent upon your own individual state law and whether such a tool has been authorized where you live. To learn more about this important estate planning tool and whether you may be able to take advantage of such a law, contact the Goosmann Law Firm office 712.226.4000 or email info@goosmannlaw.com.

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Topics: Risk Manager on Your Side, Real Estate News and Insights