club_cafe: Departure Rules

iras1 on

In a message dated 04/15/03 10:32:35 AM Eastern Daylight Time, jmedio@deloitte.com writes:

I stand corrected. Ill shut my mouth from now on :)

John,

Please don't! None of us is infallible. My original reply wasn't meant to address the original poster's question seriously, I was just being flippant. I had the right answer only by coincidence. Although I was aware of the 50% transfer/sale --> termination rule, I didn't considered it before posting my reply.

When John Munn raised the transfer rule issue, I knew I didn't have the answer at my fingertips. Until Rip cited the appropriate ruling, I had no idea whether the club would be effectively terminated or not. Once I got my last tax filings in the mail today, I was going to do the research.

Thanks for helping keep all of us on our toes. In the end, we all get much better advice from the board.

Ira Smilovitz

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