The following information will not apply to most investment
clubs, but there may be a few to which it does apply. If
your investment club is a partnership formed without a state
requirement to file the partnership agreement or other
applications with secretary of state, corporation
commission, or similar state agency, then the CTA does not
apply.

If your investment club operates as a legal entity in the
form of a corporation, limited liability corporation, or
otherwise created by the filing a document with the
secretary of state or similar office in your state, then the
entity is a "Domestic Reporting Company" per the terms of
the act.

If you are subject to the act, there are reporting
requirements pertaining to ownership that you need to learn
about and act upon.

I post this message because over the years I have read some
messages where the investment club was described as a
partnership that was created by filing papers with an agency
of the state of residence of the partnership or was a
limited liability corporation.

Cheers, Jack

The foregoing is not legal advice, and any questions should
be referred to an appropriate professional.