In our club we have a max of 20 members allowed. We have 19
now. We meet once an month and have the same 6 to 8 members
that attend. About the same 10 members each month invest in
shares in the club. Is this normal? Should we weed out the
non-investers and try to get members that will invest and/or
participate.
Thank-you,
Kevin
I.T.M. investment club.

Kevin Duffy wrote:
> In our club we have a max of 20 members allowed. We have 19
> now. We meet once an month and have the same 6 to 8 members
> that attend. About the same 10 members each month invest in
> shares in the club. Is this normal? Should we weed out the
> non-investers and try to get members that will invest and/or
> participate.
> Thank-you,
> Kevin
> I.T.M. investment club.

Hi,
We have a clause in our by-laws that states if a member
misses 3 consecutive months of payments, it is the same as a
writen letter of withdrawal. The end of the third month
would be used for the valuation date and they would be paid
out.

Scott Mace
Administrator
Snake River Investment Club

> In our club we have a max of 20 members allowed. We
> have 19 now. We meet once an month and have the
> same 6 to 8 members that attend. About the same 10
> members each month invest in shares in the club. Is
> this normal?

NO Kevin, it's NOT! At least it's not suppose to be. Many
clubs have participation and absenteeism problems, mainly
because they don't know how to deal with it.

The club needs to be viewed as a business (which it is!
Taxes and money are involved, right?!). So it's imperative
that every member pull their own weight by showing up,
participating, and paying on time. If they are not
interested, they need to be weeded out.

Many of us have bylaws that include penalties for not paying
on time, or a clause that covers the minimum number of
meetings a member can miss. If you don't have these in your
bylaws, all you have to do is make a presentation at your
next meeting and follow it with a motion to include such
verbage in your PA. If the vote passes, send your missing
or delinquent members a letter explaining the new rules, and
ask them if they would like to stay with the club or bow
out. I think you will find that most will bow out.

And that's ok! I would rather be in a club with 5 committed
and functional members, rather than a club of 20 where half
don't participate.

My club's partnership agreement clearly states the rules
pertaining to this subject. You are welcome to use or
modify them of you need an example. You can find them on
our website here at Bivio. www.bivio.com/crowriver

Our Procedures Manual also had a clause for Member
Responsibilities that clearly lays out everything they are
suppose to do for the club. These are covered with new
prospects in the pre-orientation meeting, as well as listed
on an induction form they must sign to join our club. We
don't make a big deal about it--we don't have to! The form
speaks for itself and lets the new members know exactly what
they are committing to.

Lynn Ostrem, Vice President
Crow River Investment Club
Minneapolis, MN

My stock club also limits memebership to 20. We have an
initiation fee of $250 (it buys shares) with $30 per month
as an individual contribution that is MANDATORY. If payment
is not received by the due date, there is a $5 fee (does not
buy shares). If after two weeks and no payment has been
received, the member can be voted out.

Attendance is similar to your situation. We have a core
group that meets every other week; sometimes cancelling the
meeting if attendance is known that it will be low. For a
valid meeting, one officer must be present and a minimum
number of members. Our club does not require minimums in
regard to attendence; some of the members have not even met
each other.

We have found that our turn-over is low and most people make
their payment on time. Typically members leave for reasons
other than interest in the financial community.

= Ken


Lynn Ostrem wrote:
> > In our club we have a max of 20 members allowed. We
> > have 19 now. We meet once an month and have the
> > same 6 to 8 members that attend. About the same 10
> > members each month invest in shares in the club. Is
> > this normal?
>
> NO Kevin, it's NOT! At least it's not suppose to be. Many
> clubs have participation and absenteeism problems, mainly
> because they don't know how to deal with it.
>
> The club needs to be viewed as a business (which it is!
> Taxes and money are involved, right?!). So it's imperative
> that every member pull their own weight by showing up,
> participating, and paying on time. If they are not
> interested, they need to be weeded out.
>
> Many of us have bylaws that include penalties for not paying
> on time, or a clause that covers the minimum number of
> meetings a member can miss. If you don't have these in your
> bylaws, all you have to do is make a presentation at your
> next meeting and follow it with a motion to include such
> verbage in your PA. If the vote passes, send your missing
> or delinquent members a letter explaining the new rules, and
> ask them if they would like to stay with the club or bow
> out. I think you will find that most will bow out.
>
> And that's ok! I would rather be in a club with 5 committed
> and functional members, rather than a club of 20 where half
> don't participate.
>
> My club's partnership agreement clearly states the rules
> pertaining to this subject. You are welcome to use or
> modify them of you need an example. You can find them on
> our website here at Bivio. www.bivio.com/crowriver
>
> Our Procedures Manual also had a clause for Member
> Responsibilities that clearly lays out everything they are
> suppose to do for the club. These are covered with new
> prospects in the pre-orientation meeting, as well as listed
> on an induction form they must sign to join our club. We
> don't make a big deal about it--we don't have to! The form
> speaks for itself and lets the new members know exactly what
> they are committing to.
>
> Lynn Ostrem, Vice President
> Crow River Investment Club
> Minneapolis, MN