There are several ways you can buy out a member.
1) All members could buy out the member in equal portions and you can raise
money or sell stock to come up with the funds.
2) One or more individual members could decide to buy out the member and they
could come up with the money themselves.
3) If only one member wants to buy out another member, simply run a valuation
report to determine the existing value and you have the dollar amount.

Our club wrote in a 90 day waiting period into our bylaws for anyone wishing to
exit the club. The value is frozen as of the withdrawal date, but the club
itself has 90 days to come up with the money. We can then decide who (if)
anyone wants to but out the member, and in what method we wish to raise the
funds (extra donation or sale of stocks). I always suggest to other clubs that
they consider an exit strategy for members as turnover will almost always occur.

As far as the transaction is concerned , Bivio can carry out any of the above
scenarios. Send Bivio support an individual email for the exact instructions

Have a fantastic day.

J Mostek






"hank macko" <blacknightd33@hotmail.com> on 09/07/2002 11:33:15 AM

Please respond to "The Club Cafe" <club_cafe@bivio.com>
                                                              
                                                              
                                                              
  To: club_cafe@bivio.com
                                                              
  cc: (bcc: Juan Mostek/BattleCreek/USA/Kellogg)
                                                              
                                                              
                                                              
  Subject Re: club_cafe: Buying out another member
  :
                                                              








>From: Welma Horn <welma_horn@bivio.com>
>Reply-To: "The Club Cafe" <club_cafe@bivio.com>
>To: club_cafe@bivio.com
>Subject: club_cafe: Buying out another member
>Date: Sat, 7 Sep 2002 15:29:04 GMT
>
>A member of our club wants to withdraw, and I want to
>purchase her shares. How is this transaction accomplished?
>It appears that the withdrawal process requires the club to
>distribute the shares equally among members and distribute
>money to the withddrawing member. What is the process here?
>Welma

SHUT UP?


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