All descendants of Byrd and A Payne by blood or legal adoption may use the Lone Mountain House and are eligible to join Club Payne. It is only by joining Club Payne however, that one can hold office and/or have a voice in the affairs of the LMH. It is also the only way to accrue ownership/dissolution rights in the property.
We want the support of the LMH to be a broad effort that enables any family member to be a part of it. Dues consist of any donation of $25 and over. Ownership portion and voting power increase with larger contributions.
Voting Power
Club Payne is a board-run organization and member votes are seldom required. Member votes are required for:
Election of Directors (next election in 2020)
Any issue described in Article 11 of our bylaws, which involves the most important issues including:
- Dissolution rights
- Dissolution of the Club
- Sale of the LMH
Member Voting Power is based on donation increments of $25.
- $25 = 1 vote
- $50= 2 votes
- $100 = 4 votes
- 500 = 20 votes
Voting power is capped at 20 votes so if you give $1 million, so:
- $1000 = 20 votes
- $1,000,000 = 20 votes
Voting Power ends with the Member Year and must be earned anew the next Member Year.
Ownership/Dissolution Rights
The only time ownership of the LMH would be important is if the house is ever sold. The amount of the proceeds each person would receive, would be based on the amount they had given over the history of Club Payne, i.e. since 2009.
Unlike voting power and club membership, these rights do not end with the calendar year, but are accrue and grow each year. Even if your Club Payne Membership lapses, you contributions toward dissolution remain in effect. If the house is ever sold, a calculation will be made based on Total Aggregate Giving (TAG). A TAG CHART will be prepared and published at the end of each member year.
Click here to see latest TAG chart
Transferring Ownership/Dissolution Rights
Those who have been Club Payne Members for ten consecutive years, have the right to transfer any or all of their rights to any Club Payne member who has maintained Club Payne membership for 5 consecutive years. Ownership/Dissolution rights held by any member at the time of their death will expire.
Membership Year
Technically, the Membership Year is from January 1 – December 31, although the club reserves the right to extend membership until the beginning of the next membership drive each year. Though we encourage everyone to join as early in the year as possible, we accept member contributions at any time.
Join Club Payne today!