[Inpycon] Society vs. trust

[Sreekanth S Rameshaiah]

Dear all,

> > Is there a document somewhere describing the pros and cons of a trust
>> > vs. society?
>> >
>> > >From what I've gleaned from the conversations here, a society is more
>> >
>> > transparent and would work better for our purposes but a trust is
>> > quicker and simpler. Is there anything else I should be aware of? The
>> > lawyer himself recommends a trust since it's easier to setup up and
>> > run.
>>
>> yes - very easy. What is not easy is unseating the trustees. A trust is
>> used
>> when the trustee/trustees control the source of funds - and do not want
>> others
>> to have authority over the funds. This is not the case here.
>>
>
>
> My two cents ( I am no lawyer) is to go in for a society. Hold elections
> every year at Pycon, and have a resolution that no one can hold on to  the
> same post for more than two years consecutively, to avoid any possible
> hijacking associated with some of the Foss conferences in the country!
>

I appreciate the speed at which you people are moving forward on this. I
request you all to also check with an auditor and understand the statutory
obligations and liabilities.
These overheads need to be understood and also the implications for not
fulfilling them before we collectively move forward.
Regards,
- sree
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