I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
Colleen Goings
Joe Farrell on
Fines are archaic.
Joe Farrell
> On Feb 16, 2022, at 9:20 AM, Colleen Goings via bivio.com <user*15498700001@bivio.com> wrote:
>
> I would like to know if other clubs are still collecting
> fines for not attending meetings, or for not having your
> report on your stocks for the day. If you do have fines, how
> does your club treasurer deal with them? I have been
> investing them with the person that paid them, because there
> are no classifications for fees. Just wondering how other
> clubs deal with this.
>
> Colleen Goings
Richard Evans on
We have never had fines.
Diana Evans
> On Feb 16, 2022, at 10:20 AM, Colleen Goings via bivio.com <user*15498700001@bivio.com> wrote:
>
> I would like to know if other clubs are still collecting
> fines for not attending meetings, or for not having your
> report on your stocks for the day. If you do have fines, how
> does your club treasurer deal with them? I have been
> investing them with the person that paid them, because there
> are no classifications for fees. Just wondering how other
> clubs deal with this.
>
> Colleen Goings
Anat Spector on
We never had fines , Our club is for educational fun !
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
Colleen Goings
--
The struggle itself toward the heights, is enough to fill a man's heart. One must imagine Sisyphus happy.
~ Albert Camus
Laurie Frederiksen on
If someone is not engaged enough to make the contributions you have all agreed to, fines are not going to have any positive effect in fixing that problem.
If you have members that are not participating, it is probably time for them to part ways with your club. We have not seen where penalizing them makes them more likely to do what they are supposed to do. They only create extra work for the club treasurer.
Laurie Frederiksen Invest with your friends! www.bivio.com
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
Colleen Goings
ira smilovitz on
The only time we have assessed a fine has been when a member needs to reimburse the club tor a bounced check fee.
Ira Smilovitz
On Wed, Feb 16, 2022 at 10:46 AM Laurie Frederiksen <laurie@bivio.biz> wrote:
If someone is not engaged enough to make the contributions you have all agreed to, fines are not going to have any positive effect in fixing that problem.
If you have members that are not participating, it is probably time for them to part ways with your club. We have not seen where penalizing them makes them more likely to do what they are supposed to do. They only create extra work for the club treasurer.
Laurie Frederiksen Invest with your friends! www.bivio.com
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
Colleen Goings
Virginia Cooper on
Yes to Laurie's comment. Rather than fines, make sure your Partnership Agreement and Operational Procedures defines what constitutes non-contribution or non-participation to the club, and clearly states that after a specific number of months or incidents, a member is subject to dismissal by vote of the other members.
The only time we have assessed a fine has been when a member needs to reimburse the club tor a bounced check fee.
Ira Smilovitz
On Wed, Feb 16, 2022 at 10:46 AM Laurie Frederiksen <laurie@bivio.biz> wrote:
If someone is not engaged enough to make the contributions you have all agreed to, fines are not going to have any positive effect in fixing that problem.
If you have members that are not participating, it is probably time for them to part ways with your club. We have not seen where penalizing them makes them more likely to do what they are supposed to do. They only create extra work for the club treasurer.
Laurie Frederiksen Invest with your friends! www.bivio.com
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
Colleen Goings
Linda Glein on
I've belonged to four different clubs over the past thirty years. None ever assessed fines.
It creates an unpleasant atmosphere in the club. A partnership needs rules and expectations. Keep in mind the goal of the investment club, which is educational.
Doling out fines should go the way of the teacher rapping knuckles with a ruler.
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
I've belonged to four different clubs over the past thirty years. None ever assessed fines.
It creates an unpleasant atmosphere in the club. A partnership needs rules and expectations. Keep in mind the goal of the investment club, which is educational.
Doling out fines should go the way of the teacher rapping knuckles with a ruler.
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
Colleen Goings
Alicia Peycelon on
We have only ever had a nominal fee for late dues payment and it never gets invested, but rather goes into a fund for general expenses.
I've belonged to four different clubs over the past thirty years. None ever assessed fines.
It creates an unpleasant atmosphere in the club. A partnership needs rules and expectations. Keep in mind the goal of the investment club, which is educational.
Doling out fines should go the way of the teacher rapping knuckles with a ruler.
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
Colleen Goings
Roy Chastain on
I agree totally with Linda. I was in four clubs since 1996, and none ever felt the need to impose fines. Fines would make it seem like a business, not a club with education goals. (Also, if a partner does not participate they are using you as a mini-etf/mutual fund and should should be asked to resign or be voted out, assuming the Partnership Agreement allows for such action.)
Thank you, Roy Chastain
"I am coming to be quite contented learning to do very little - slowly." Lionel Hardcastle [In "As Time Goes By"]
I've belonged to four different clubs over the past thirty years. None ever assessed fines.
It creates an unpleasant atmosphere in the club. A partnership needs rules and expectations. Keep in mind the goal of the investment club, which is educational.
Doling out fines should go the way of the teacher rapping knuckles with a ruler.
Linda
Valerie Fowler on
I agree with the others. If someone isn't interested enough to do the work than they should just resign. But that said, if you do impose fines the club needs to decide if the fine will be generating units for that member. If the fines should generate unit then put it in as a payment in the members section. If the fines aren't supposed to generate units, then you need to start a petty cash account, and that moneu could be used for expense that are not tax deductible, such as party supplies or flowers for a member that had a death in the family.
-----Original Message-----
From: Alicia Peycelon via bivio.com <user*14455600001@bivio.com>
To: club_cafe@bivio.com
Sent: Wed, Feb 16, 2022 12:17 pm
Subject: Re: [club_cafe] Fines paid by clubs
We have only ever had a nominal fee for late dues payment and it never gets invested, but rather goes into a fund for general expenses.
I've belonged to four different clubs over the past thirty years. None ever assessed fines.
It creates an unpleasant atmosphere in the club. A partnership needs rules and expectations. Keep in mind the goal of the investment club, which is educational.
Doling out fines should go the way of the teacher rapping knuckles with a ruler.
I would like to know if other clubs are still collecting
fines for not attending meetings, or for not having your
report on your stocks for the day. If you do have fines, how
does your club treasurer deal with them? I have been
investing them with the person that paid them, because there
are no classifications for fees. Just wondering how other
clubs deal with this.
Colleen Goings
Linda on
We never had fines. Every member cannot attend every meeting. Life happens. Some had babies, surgery, funerals, winter vacation, bad weather in winter (few members travel 30 miles). Most of our 17 women member use ACH into a checking account.
We arenât strict about stock reports. We all have our phones with us to research.
We meet at restaurant in evening. Fun is most important. I joined to meet other women, learn. Making money is bonus.
Sent from my iPad
> On Feb 16, 2022, at 9:20 AM, Colleen Goings via bivio.com <user*15498700001@bivio.com> wrote:
>
> I would like to know if other clubs are still collecting
> fines for not attending meetings, or for not having your
> report on your stocks for the day. If you do have fines, how
> does your club treasurer deal with them? I have been
> investing them with the person that paid them, because there
> are no classifications for fees. Just wondering how other
> clubs deal with this.
>
> Colleen Goings
Robert Shaw on
Our club acknowledges people have other lives and we do not use fines.
We allow up to 5 absences; after that the president is directed by our PA to discuss the intentions of the absent member.
A report will be given to the membership and a vote will be taken.
If this determination is that the member does intend to be an active member they will likely be retained as a member.
"Generally, a membership interest is an investment contract if members invest and expect to make a profit from the efforts of others.
If every member in an investment club actively helps decide what
investments to make, the membership interests in the club would probably
not be considered securities.
If the club has even one passive member,
it may be issuing securities."
"An investment club must register with the SEC as an investment company under the 1940 Act if:
the club invests in securities;
the club issues membership interests that are securities (see above); and
the club is not able to rely on an exclusion from the definition of investment company."
Having passive members has the potential to cause you problems.
We never had fines. Every member cannot attend every meeting. Life happens. Some had babies, surgery, funerals, winter vacation, bad weather in winter (few members travel 30 miles). Most of our 17 women member use ACH into a checking account. We aren't strict about stock reports. We all have our phones with us to research. We meet at restaurant in evening. Fun is most important. I joined to meet other women, learn. Making money is bonus.
I would like to know if other clubs are still collecting fines for not attending meetings, or for not having your report on your stocks for the day. If you do have fines, how does your club treasurer deal with them? I have been investing them with the person that paid them, because there are no classifications for fees. Just wondering how other clubs deal with this.