D
Deleted member 18588
Guest
think that you will find that the vast majority (around two-thirds) of Clubs are Member's Clubs and, therefore, the members of those Clubs are, by definition, owners.
There are no "perks of ownership" as they are not constituted to make profits.[/QUOTE]
I stand corrected if that is the case. Its not my understanding of "ownership" though. As a member in such circumstances what do you actually "own"? Assume the assets (e.g. the land, all assets etc) are held outside the members club?[/QUOTE]
The assets of most Members' Clubs are owned by a Limited Company, the Directors of which will themselves be members of those Clubs and generally elected to their positions by their fellow members.
This method of governance protects the membership and its liabilities.
However, the assets are held by the Limited Company in trust for the benefit of the membership as a whole.
There are no "perks of ownership" as they are not constituted to make profits.[/QUOTE]
I stand corrected if that is the case. Its not my understanding of "ownership" though. As a member in such circumstances what do you actually "own"? Assume the assets (e.g. the land, all assets etc) are held outside the members club?[/QUOTE]
The assets of most Members' Clubs are owned by a Limited Company, the Directors of which will themselves be members of those Clubs and generally elected to their positions by their fellow members.
This method of governance protects the membership and its liabilities.
However, the assets are held by the Limited Company in trust for the benefit of the membership as a whole.