Are we covered?

[Alex P]

Saw what????

Must have missed it....

[Elliot M]

perhaps this is less of a risk for a cycle club given no significant non-cash assets (premises etc) or long term financial undertaking (rent of pitch etc?)

[Gavin]

There is a market for renting a portaloo at coulsdon south.......

[mrP(Boonen)VT]

That is and always has been the case, and is the reason why CTT and BC are now incorporated companies with guarantee, or something like that, which means that each individual member is liable to the extent of his membership fee, which having been paid upfront for the year is effectively nil.

As was explained to me by a solicitor (any legal types may know better?), any debts incurred by the club in the event of liquidation/wind up, would mean that every member would be equally liable for the debt. (This was as I took to be the situation with the SCCU when I was on their committee and with the huge committment of Good Friday Meeting, I chose to resign.)

However, the finances of the club are regularly discussed at committee level and audited at the end of the club's financial year, which are a matter of (club members/public?) record.

Paul