I know alot about this since had to sue a couple of years ago. What happened to me was "extraordinary and unforseeable" so please don't form a judgement about my character till you hear the basic facts.
I basically ran into a tractor on the downside of a tabletop ( a tall one where the downslope is blind ) when the track owner pulled the track while three of us were still riding on it. The tractor is about 9 feet tall and the table top is around 12 so it was completely blind and unexpected. No flagger, cones, warnings of any kind. You can imagine my suprise when I came over the tabletop.Luckily only a couple of broken legs/knees since I could have been killed. The track owner refused to apologize, admit any fault, or take any responsiblity for my financial situation since I could not work for 4 + months.
This was obviously a terrible mistake on the track owners part. I think the key here is taking responsiblily for you own actions, which the track owner did not want to do. Long story short - I won the suit but still have not seen a penny and the suit is getting close to the end of the appeal period soon.
Here are my suggestions to minimize you risks associated with owning a track.
1. the LLC is not a bad idea
2. A lawyer approved waiver - and make sure everyone signs it.
3. Make sure the track is secured ( locked and fenced) when it is not
open.
4. Have a list of rules for conduct, which participants must sign at least
once. Some good rules from a legal standpoint:
A. Use the exits and entrance to the track as such.
b. Always travel in the proper direction
c. No shortcutting the track or obstacles
d. No spectators on the track
e. no pit riding
f. Define all the mandatory riding gear
g.etc, etc - you get the idea - ----------
5. Buy some type of insurance
6. Never create an unforseeable or unknown danger to the riders ( as in
equipment near or pulled onto the track) A waiver will not hold up in
court. As said above - you can't sign all your rights away.
7. Never allow a riders vehicle onto the track, or your own equipment,
unless the track has been completely cleared by flaggers. A rider
may pull his truck out to get a downed bike, or a downed rider.
8. Have a way tell riders that the track is being cleared for watering,etc
with either a closed gate, intercomm system, flag system, etc. You
can't beat a closed entrance gate tho. - coupled with a good inte-
comm system.
9.Have some 2-way radios for you and your employees/helpers to
communicate, so that an accident does not happen due to poor
communication.
10. If someone is questionably a minor - have them show proof of age.
If they are a minor , take an ID of the guardian with a lisc. no. - so
you have proof of who it was that accompianed the minor.
11. Another thought - in the waiver or rules you could actually define all
the major hazards associated with riding the track. Such as - other
riders, track conditions, rocks, fences, track changes ( from one
week to another ), etc.
Sorry for the long response, and I know it all sounds a little overcautious. Some of this stuff I would have never even thought of before going to court, and most I consider common sense. But lawyers don't think like MX'ers - they don't care if it was fair, or common sense. They are just looking for loopholes in the law. But if you run a good track and follow some safety guidelines ( which I am sure you do ), the odds for a lawsuit decrease incredibly. :)