August 2022

For more than 100 years, the National Collegiate Athletic Association (NCAA) has served as an organizing body for intercollegiate athletics, and for generations, one of its most notable rules has been a ban on compensation for student-athletes. Following a flurry of legal challenges alleging that the NCAA’s rule violated its antitrust exemption – culminating in a June 2021 Supreme Court decision in National Collegiate Athletic Association v. Alston – the NCCA relented and adopted an “Interim NIL Policy.” This new policy permitted active collegiate athletes to be compensated for the use of their Name, Image or Likeness (NIL) without risk of losing their amateur status, eligibility to participate in intercollegiate athletics, or scholarships.

One of the most common concerns that an owner of a closely-held business faces regarding business succession is liquidity. How can the future owners of the business, such as a child or key employees, pay the owner or his family the fair market value of the business? How can a business continue when an owner dies prematurely? One answer is to use life insurance. This article will highlight how insurance policies can play a central role in a succession plan that preserves the value and integrity of the business, while maintaining family unity.

How can life insurance help preserve a business when the owner dies? In many cases, a family member or key employee will purchase life insurance on the life of the business owner (or “Owner”), which ensures that the buyer is actually in a financial position to pay the fair market value of the business. In some cases, the Owner will purchase the life insurance to make sure this strategy can be used.  

Condominiums, homeowner associations, and cooperatives (“Associations”) offer a myriad of services and amenities – such as, swimming pools, fitness centers, and tot lots – to owners and residents living within their communities. Associations, therefore, are considered housing providers and must comply with the Federal Fair Housing Act (FHA), Title VII of the Civil Rights Act of 1968, as amended. The FHA prohibits housing discrimination in the availability and enjoyment of housing and housing-related services, facilities, and transactions based upon an individual’s race, color, religion, sex, national origin, familial status, and mental or physical disabilities. These aforementioned protected classes are for the most part self-explanatory, except for one: familial status. What exactly is meant by familial status?

Once again, we are a proud sponsor of the HCC 5K Challenge Race. The in-person race takes place on Sunday, October 9th.  This unique race provides opportunities to promote corporate wellness and team building, while raising funds for student scholarships.

The HCC 5K Challenge Race training opportunities differentiate this race from other running events. Thanks to a partnership with Columbia Association (CA), all participants receive a 90-day complimentary membership to the CA sports and fitness facilities.

If your organization is up for the challenge and wants to compete against us, please reach out to Kelly Spore for sponsorship details! 

While we will be staying in Town Center Columbia, we are moving into larger space designed to serve you better and enhance your experience with our firm. We look forward to hosting you at our new office later this summer.

Effective Monday, August 15th, we will be in our new location:

Careers at the Firm

Our firm always has room to grow! We are looking for capable and hard-working individuals to join our team. Are you are in search of a firm with a team-oriented culture, an entrepreneurial spirit, and a “work hard, play hard” mentality? We invite you to send us your resume even if you don’t see a position on our career page that meets your hopes and expectations.

WE’VE RAISED THE BAR

through distinctive client service.

410-995-5800 | www.darslaw.com