Club By-Laws
When our club was founded a parliamentarian included a statement that no member shall own more than 15% of the portfolio. We now have two members who own more than 15% and a couple that are close. If each member has just one vote, why would we need that statement? The member has since passed away so we cannot ask her and at the time 15% seemed so far away. Your response is appreciated.
Diana Evans, Poors Pupils Investment Club
Diana Evans, Poors Pupils Investment Club
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On Thu, May 18, 2017 at 3:22 PM, Diana Evans via bivio.com <user*32774200001@bivio.com> wrote:
When our club was founded a parliamentarian included a statement that no member shall own more than 15% of the portfolio. We now have two members who own more than 15% and a couple that are close. If each member has just one vote, why would we need that statement? The member has since passed away so we cannot ask her and at the time 15% seemed so far away. Your response is appreciated.
Diana Evans, Poors Pupils Investment Club
On Thursday, May 18, 2017 4:04 PM, dabay3 <dabay3@sbcglobal.net> wrote:
The reason for the 15% ownership is because voting is not set up for one vote one member. It is set up based on percentage of ownership. Though most clubs use one vote per member, if a member wants to call for a vote based on percentage of ownership it would take precedence over one member one vote. This protects the assets of those who have have been in the club longer and have more to lose, in case you have new members who outnumber older members. The new members may not have the experience in investing and may want to pursue riskier investments. We handled this situation by passing and amendment that lets a member own any percentage, but they were limited to voting only 20%. Our ownership percentage is 20% not 15. Hope this helps.
On Thu, May 18, 2017 at 2:35 PM, Laurie Frederiksen<laurie@bivio.biz> wrote:
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Click here to Subscribe to the Club Cafe email list. Click here to UnsubscribeOn Thu, May 18, 2017 at 3:22 PM, Diana Evans via bivio.com <user*32774200001@bivio.com> wrote:When our club was founded a parliamentarian included a statement that no member shall own more than 15% of the portfolio. We now have two members who own more than 15% and a couple that are close. If each member has just one vote, why would we need that statement? The member has since passed away so we cannot ask her and at the time 15% seemed so far away. Your response is appreciated.
Diana Evans, Poors Pupils Investment Club
A good reason to keep the percentage down is that if a member with a large percentage of the club leaves, it can take a big bite out of the investment total and cause the selling of stock at what may not be an opportune time. Our club limits members to 10% but we have over 40 members. We also limit withdrawals to one per month unless the club votes to allow more for that month.
There may also be members who feel they should have more say if they have a large investment. The percentage allowed should take into consideration the size of the club.
Linda
Pointe Players
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of dabay3 via bivio.com
Sent: Thursday, May 18, 2017 5:12 PM
To: The Club Cafe
Subject: [club_cafe] Fw: [club_cafe] Club By-Laws
On Thursday, May 18, 2017 4:04 PM, dabay3 <dabay3@sbcglobal.net> wrote:
The reason for the 15% ownership is because voting is not set up for one vote one member. It is set up based on percentage of ownership. Though most clubs use one vote per member, if a member wants to call for a vote based on percentage of ownership it would take precedence over one member one vote. This protects the assets of those who have have been in the club longer and have more to lose, in case you have new members who outnumber older members. The new members may not have the experience in investing and may want to pursue riskier investments. We handled this situation by passing and amendment that lets a member own any percentage, but they were limited to voting only 20%. Our ownership percentage is 20% not 15. Hope this helps.
On Thu, May 18, 2017 at 2:35 PM, Laurie Frederiksen
<laurie@bivio.biz> wrote:
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On Thu, May 18, 2017 at 3:22 PM, Diana Evans via bivio.com <user*32774200001@bivio.com> wrote:
When our club was founded a parliamentarian included a statement that no member shall own more than 15% of the portfolio. We now have two members who own more than 15% and a couple that are close. If each member has just one vote, why would we need that statement? The member has since passed away so we cannot ask her and at the time 15% seemed so far away. Your response is appreciated.
Diana Evans, Poors Pupils Investment Club
our club only has 5 members and 3 of them each own 25% of the portfolio and we are now adding 2 new members. It has not been a problem.
On Thu, May 18, 2017 at 6:44 PM, Linda Wiltse via bivio.com <user*31518000001@bivio.com> wrote:
A good reason to keep the percentage down is that if a member with a large percentage of the club leaves, it can take a big bite out of the investment total and cause the selling of stock at what may not be an opportune time. Our club limits members to 10% but we have over 40 members. We also limit withdrawals to one per month unless the club votes to allow more for that month.
There may also be members who feel they should have more say if they have a large investment. The percentage allowed should take into consideration the size of the club.
Linda
Pointe Players
From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of dabay3 via bivio.com
Sent: Thursday, May 18, 2017 5:12 PM
To: The Club Cafe
Subject: [club_cafe] Fw: [club_cafe] Club By-Laws
On Thursday, May 18, 2017 4:04 PM, dabay3 <dabay3@sbcglobal.net> wrote:
The reason for the 15% ownership is because voting is not set up for one vote one member. It is set up based on percentage of ownership. Though most clubs use one vote per member, if a member wants to call for a vote based on percentage of ownership it would take precedence over one member one vote. This protects the assets of those who have have been in the club longer and have more to lose, in case you have new members who outnumber older members. The new members may not have the experience in investing and may want to pursue riskier investments. We handled this situation by passing and amendment that lets a member own any percentage, but they were limited to voting only 20%. Our ownership percentage is 20% not 15. Hope this helps.
On Thu, May 18, 2017 at 2:35 PM, Laurie Frederiksen
<laurie@bivio.biz> wrote:
You can find some good thoughts in recent Club Cafe discussions of this topic here:
and here:
Laurie Frederiksen
Invest with your friends!
www.bivio.com
Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/ bivio
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Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe
On Thu, May 18, 2017 at 3:22 PM, Diana Evans via bivio.com <user*32774200001@bivio.com> wrote:
When our club was founded a parliamentarian included a statement that no member shall own more than 15% of the portfolio. We now have two members who own more than 15% and a couple that are close. If each member has just one vote, why would we need that statement? The member has since passed away so we cannot ask her and at the time 15% seemed so far away. Your response is appreciated.
Diana Evans, Poors Pupils Investment Club