Who owns the 'club'

rkj52 replied on 25/02/2017 08:19

Posted on 25/02/2017 08:19

There has been much talk in the 'new name' discussion as to if the CMCC is a club or not. So should the CEO and Chairman decide to vote through a decision to sell the club and all its millions of assets to an equity company or commercial operation (as other clubs have), where would the proceeds be distributed; there's an interesting question, any ideas.

rkj52 replied on 07/03/2017 09:19

Posted on 07/03/2017 09:19

Had an excellent letter back from the Club and to clarify in very simple terms:-

The executive committee are the shareholders and they hold them in trust for the members. If the club were ever to go along the same lines as the RAC, or go bump, then surplus funds with be distributed to full members over 5 years standing.

Full members are those who pay the £49 per annum, that is literally the ones who pay the fee. So for example, a husband and wife on a joint membership, only one would be a full member, that is the one who pays the fee.

All full members are entitled to attend and vote at the AGM.

So in fact, we (£49 fee payers over 5 years of membership) do own the club.

brue replied on 07/03/2017 09:29

Posted on 07/03/2017 09:29

Rkj this is why companies have Articles of Association which set out all the legalities. These are on view in About Us at the end of the page.

rkj52 replied on 07/03/2017 09:30

Posted on 07/03/2017 09:30

Rochelle,

I think the club have been very open and honest in their response and have answered the original question, so as the op, please feel free to close this thread.

Thanks

replied on 07/03/2017 09:32

Posted on 07/03/2017 09:32

 Why close though as others may wish to reply? 

PhilHeller replied on 07/03/2017 10:22

Posted on 07/03/2017 10:22

More confused than ever, on the one hand we are being told we are only club members with basically no control at all and now being told we are full members because we pay our £49 fee🤔 Think I will go and lie down in a dark room again.

Wildwood replied on 07/03/2017 11:27

Posted on 07/03/2017 11:27

Basically the members own the club and it is run by an elected committee. The problem is how do you get a committee representative of the membership. The present system relies on mostly members being proposed by the DA's and then others being brought in by the committee. It is not truly representative although, I have no doubt they are all dedicated to the club, and do their best for it, but they are not truly a cross section of members.

I suspect even the committee would agree a wider based representation would help, but just how you get a good balance of members who are not involved in other areas of the club, is not one I can see an easy answer to.

You do get a chance to vote for the committee each year but in general they are just names to most of us and the choice is very limited so we have no actual influence.

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