நாடு சங்கம் பணத்தைத் திரும்பப் பெறுதல் பாலிஸீஸ் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Friday, February 19, 2021
As the COVID-19 pandemic continues to disrupt country club operations, clubs face increasing financial pressures. Members who paid refundable payments to acquire their memberships are resigning and may demand immediate payment of their refundable joining payments, notwithstanding the terms of their membership agreements. This GT Alert discusses this trend and provides general guidance for clubs facing resigned member payment demands.
Resigned Member Deposits
Many country clubs require a membership deposit, capital, or equity to be paid for acceptance. Upon member resignation, clubs may allow for a refund of a portion of the membership deposit and joining payment when a certain number of new members in the same membership class join. The ratio of resigned members to new members varies from 1:1 to 5:1. Assuming that the number of resigned members exceeds the number of new members, clubs employ a resigned list that ranks resigned member ....

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