Investment club withdrawals

sholley200 on

We don't have any withdrawal provisions. It would have to be voted in by the group.
------Original Message------
From: Leslie Braun
Sender: club_cafe@bivio.com
To: club_cafe@bivio.com
ReplyTo: club_cafe@bivio.com
Subject: [club_cafe] Investment club withdrawals
Sent: Nov 5, 2012 2:57 PM

Our bylaws stipulate that members can withdraw from the club
by notifying the membership one week before the regularly
scheduled March meeting or September meeting. The bylaws go
on explain the entire process. We would like to know how
other clubs handle withdrawals. Can members withdraw anytime
during the year; more than twice; etc.

Thanks,
Leslie

Sent on the Sprint� Now Network from my BlackBerry�

John W Ranby on

Leslie:

Our partnership agreement contains language patterned after
the sample agreement. A partner can submit a letter of
resignation at any time. We vote to make it official at the
next meeting, but I don't think we could force a member to
stay legally; and for sure would not want to from a policy
stand point.

A separate issue addresses the timing and frequency of a
member requesting a partial withdrawal. We don't have any
limitation on the timing or frequency of that either; but
unless it was for a good reason and not frequently, it would
be denied.

Jack Ranby

pangelo722 on

I am sending this to anyone who can give me some suggestions as to what to do in my situation.

I belong to a three member club. I am resigning but when I looked back to the years 2010, 2011, 2012, I found discrepancies. For the last 3 yrs we have become dormant, not meeting regularly. When I looked at the club records, I found the club ledger had dues documented that were not deposited in the bank. This had been done on several occasions for the 3 yrs. I asked the treasurer to correct it. And she won't. I won't resign from the club until this is done because deposits I actually made to the bank account were never put in the club's ledger. As you know the members' units are based upon dues paid. Therefore I would be losing some my investment. What would you do?

Pamla, Miami

-----Original Message-----
From: John W Ranby <ranby@azbar.org>
To: club_cafe <club_cafe@bivio.com>
Sent: Mon, Nov 5, 2012 6:32 pm
Subject: [club_cafe] Re: Investment club withdrawals

Leslie:

Our partnership agreement contains language patterned after
the sample agreement. A partner can submit a letter of
resignation at any time. We vote to make it official at the
next meeting, but I don't think we could force a member to
stay legally; and for sure would not want to from a policy
stand point.

A separate issue addresses the timing and frequency of a
member requesting a partial withdrawal. We don't have any
limitation on the timing or frequency of that either; but
unless it was for a good reason and not frequently, it would
be denied.

Jack Ranby

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