When a membership club charges for membership are they allowed not to hold an agm or show accounts?
jimbanks54 asked:
When a membership club charges for membership are they allowed not to hold an agm or show accounts?
Tags:Agm,Club Charges,Scrutiny
When a membership club charges for membership are they allowed not to hold an agm or show accounts?
In this case, a sporting team has a supporters club. the club charge for membership and hold events to raise money to support the club. they do not hold an agm to vote in the running of the supporters club and their accounts are not open to scrutiny. it is never explained where the money goes to and i am sure not all of the money raised goes to the cause raised for.
is this legal?
See your 2008 Updated Credit Report here
Related posts
Filed under: Law & Ethics on June 1st, 2009
See your 2008 Updated Credit Report here
depends on where they are chartered and how, what corporate status they hold. If in the US, check with the secretary of state in your state for the incorporation comission.