RobbieW
Well-known member
My club, see above, deals with the asset situation in the articles. Members do share in any residual value but need a minimum of 5 years continuous membership, the share is pro-rated from there and we have members with 35+ years standing. We have no debt and a fair asset on the river in Hamble. In principle we have a joining fee but it hasnt been exercised for a long time.This is an old thread and I may have said this before. Many clubs have valuable assets, like clubhouse premises in expensive areas of real estate, land, rescue boats, work boats etc. These will have been funded by existing and previous members. I believe in the event of a club closing, the assets if sold are to be divided amongst members. A joining fee is a contribution from a new applicant/member towards what existing members have already put in. This was the case at my Golf club and Yacht club back in the days we were Poole based, our current one in Cowes is a very much smaller affair and only has a tiny joining fee