LGC Says Embattled LGC Facing More Legal Challenges

An elected city official in New Hampshire warned his colleagues last week that the Local Government Center may lose its federal tax-exempt status because of charges by the state Bureau of Securities Regulation that it engaged in an illegal reorganization in 2003.North Hampton Select Board member Phil Wilson gave an update on the LGC's continuing legal battle over distribution of surplus from its insurance pools and the probe by state regulators of a 2003 reorganization by the municipal risk pool that involved Delaware shell corporations, according to a report in The Portland Herald."The bo...