>>Your expenses should always be drawn from each member
equally.

I disagree with this. If your PA calls for equal allocation, ok, but, in general, expenses should be allocated in proportion to each member's share of the club. Most expenses are CLUB expenses, not individual's expenses. After all, you're not planning on dividing your income equally, are you?

 

>>Fees in the other hand could be used to penalize a member
for a bounced
check or for not showing up to the meeting.
The individual fees allocated to a member will not increase
the units of
ownership in your stake on the club. In the contrary, it
will reduce it.

No it will not. The ownership stake (percentage) will remain unchanged. Recording a fee only distributes that amount among all the members proportionally an equal amount to each unit -- including a distribution to the member who paid the fee.

 

Ira Smilovitz