Supplement to
Report on Clubs, Organization,
Their Structure & Legal Requirements
1. A community based private club should identify itself in substantially
the format as the following examples. {Click here to review the "Report on Clubs"}
The Bayne Street Private
Club
for Real Estate Acquisition
& Development & Business Acquisition and Development
Trinity’s Deacon
Board’s Private Club
for Real Estate Acquisition
& Development & Business Acquisition and Development
John Clark & Family
Private Club (Includes Relatives)
for Real Estate Acquisition
& Development & Business Acquisition and Development
Alpha Psi Alpha Private
Club
for Real Estate Acquisition
& Development & Business Acquisition and Development
Post 138 Private Club
for Real Estate Acquisition
& Development & Business Acquisition and Development
Martha Heights Private
Club
for Real Estate Acquisition
& Development & Business Acquisition and Development
Bolen Town Subdivision
Private Club
for Real Estate Acquisition
& Development & Business Acquisition and Development
Fletcher Street Apartments
Private Club
for Real Estate Acquisition
& Development & Business Acquisition and Development
2. The club’s purpose should be stated in substantially the following
format.
The purpose of
(club’s name) is to pool resources in order to become an Affiliate, General Partner, Limited Partner or an Associate of
Unity International Company Inc.’s (UICI's) Real Estate Acquisition and Development and Business Acquisition
and Development Programs. Affiliates can participate in large scale acquisitions.
In addition,
this private club has been organized for the expressed reason to earn rental income from properties purchased by UICI, our
club and others from the pooled financial resources of affiliates.
Rental income
earned will be divided by the number of affiliates and paid the month after rents are collected minus the administration fee
that is subject to change, with notice from time to time. However; under no foreseeable
circumstances will the administration fee exceed 20% of gross income.
Currently, the
Affiliate Participation Fee is $5,000.00 (or whatever fee determined by UICI’s Board of Directors and Standing Committee for
capital asset acquisitions of $1,000,000.00 [one million dollars] or more. If any increase is necessary, it will based on
the economic reality that necessitated the change) For safety's sake, all checks and money orders should be made out to UICI.
This avoids confusion and unnecessary accusations.