The Below The Line Club published an educational article on March 2, 2020 written by Winthrop & Weinstine attorneys Tami Diehm and Jim Dierking. The article, “Keeping Your Corporate Veil Strong,” is written for audiences in the petroleum distribution and convenience store industries.
Tami and Jim explain that many of their clients “in the fuel distribution business operate as part of a larger, integrated group of distinct businesses. . .Often, these clients find it beneficial, for a number of reasons, to organize each business within its own legal entity, with the group of businesses typically connected through common ownership and control and several key contractual arrangements.”
Click here to read on about the “critical importance” of maintaining the “‘separateness’ of each entity. . .in the daily operations and in the corporate books and records.”