Our club has recently begun drafting bylaws to go along with the general partnership that we drafted, ratified, signed, and got notarized earlier this month.
The process of drafting bylaws will be long and nuanced, but we really want to make sure that we have our bases covered. As we grow beyond our current four members we want to assure the ideals and goals that we formed the club upon will be passed on to new members--as well as making sure all the legal loose ends are tied up in case of any uncomfortable situations.
No one wants to have to kick a club member out or have someone quit over a disagreement, but if our club stays around as long as we hope, these things might come to pass. It is better to put in the hard work up front in drafting the partnership and bylaws than to rush to expand and then find out we have no adequate recourse to police the club.
Sly has been invaluable in writing the first draft of the partnership and the bylaws thus far, but the rest of the club members will also be writing sections of the bylaws--to make sure that we are all accountable in the legal and logistical foundation of our club.
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Thanks for the nod of confidence. We'll get there. As we propose Bylaws, it's important that we all give responsive feedback so hopefully we get things right the first time. I'd like to add more members and think we can move in that direction after we get the core rules of accounting, voting, and trading in place.
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