What is Equity membership in golf clubs?

What is Equity membership in golf clubs?

The equity membership structure is typically defined as one in which the member owns a portion of the golf club along with other members. Member-owned golf clubs are the most exclusive and the most expensive, but they usually offer amenities not available at non-equity clubs.

What is a proprietary club?

Proprietary Club means any club other than a members’ club; “Secretary”, in relation to a club, includes any officer of a club or other person performing the duties of a Secretary and, in the case of a proprietary club where there is no Secretary, the proprietor of the club;

What is a non-equity golf membership?

Non-Equity Golf Membership In the non-equity model, the club and all of the amenities are owned by an entity other than the members. This could be the developer, or an organization that specializes in owning and operating club facilities.

What do you mean by a private club?

Proprietary Club means a club the expenses of which are borne by a contractor or contractors, who receive the subscriptions of the members and who make profit out of the difference and also from the sale of intoxicating liquor and other refreshments; E.L.A.O., 1974.