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The Water Cooler
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Has anyone ever tried putting shooting land into a trust?
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<blockquote data-quote="Mad Professor" data-source="post: 3514659" data-attributes="member: 5316"><p>It would just be a commercial range owned by an “entity” that you sold memberships to. Usually expiring yearly. The entity is usually a corporation or Limited Liability Company. USSA in Tulsa is an example of an outdoor range. Most indoor ranges offer memberships and operate this way. The owning entity could be multiple people. The organizational structure would be established but should be very tight on how it runs and how someone departs or sells their ownership. Members would have no say. They are just customers. </p><p></p><p>Usually a “Club” is established as a non-profit corporation. </p><p>TriCity and OKC Gun Club are examples. These have a charter and bylaws and the “membership” owns the assets. A board of directors is tasked with the oversight. Members have to pay yearly memberships dues to stay. And you can different membership types. Say voting vs non-voting members. Voting members establish/maintain the board, but your board generally has power (although it may be limited) to run the operations. Major changes usually require a vote if the members. Non-voting members are just along for the ride. Most have requirements to change to a voting member. A history of memberships, recommendations, and land fee etc. </p><p></p><p></p><p>Any of those needs large capital to get started. And the more people involved in raise the capital makes the number of problems increase exponentially!</p></blockquote><p></p>
[QUOTE="Mad Professor, post: 3514659, member: 5316"] It would just be a commercial range owned by an “entity” that you sold memberships to. Usually expiring yearly. The entity is usually a corporation or Limited Liability Company. USSA in Tulsa is an example of an outdoor range. Most indoor ranges offer memberships and operate this way. The owning entity could be multiple people. The organizational structure would be established but should be very tight on how it runs and how someone departs or sells their ownership. Members would have no say. They are just customers. Usually a “Club” is established as a non-profit corporation. TriCity and OKC Gun Club are examples. These have a charter and bylaws and the “membership” owns the assets. A board of directors is tasked with the oversight. Members have to pay yearly memberships dues to stay. And you can different membership types. Say voting vs non-voting members. Voting members establish/maintain the board, but your board generally has power (although it may be limited) to run the operations. Major changes usually require a vote if the members. Non-voting members are just along for the ride. Most have requirements to change to a voting member. A history of memberships, recommendations, and land fee etc. Any of those needs large capital to get started. And the more people involved in raise the capital makes the number of problems increase exponentially! [/QUOTE]
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