“Just a note about the Dominion Club members owed their initiation deposits -- many FORMER club members are also owed their deposits. We joined when the Club opened. We resigned in 2007. When checking on our position on the list to be repaid, we were advised that we were #184 and that three new members would have to join for every one former member to receive his refunded fee. When I asked when we might expect to see our money, I was advised it would be a "very long time.” I asked if we should write it in our will to go to our children, and the young lady said, "That would probably be a good idea." I left that conversation thinking that the intention was never to repay those initiation fees.”
Where golf clubs still offer the option of an equity payment or deposit as well as a lower, non-equity payment, we recommend you opt for the non-equity.