4.3.2 4.3.2 Structure
Before making a membership offer, it is important to plan how the society’s relationship with members will evolve over time. The rules of the society must enable it to make a membership offer without compromising its ability to make other types of share offer in the future. This may mean establishing a distinct class of membership share (see Section 2.2.5) that is neither withdrawable nor transferable. It may require the member to pay an annual subscription. The subscription rate should reflect the cost of providing membership services, and not be used to raise development finance for the society, unless this is explicitly stated in the offer document. Annual subscriptions are an effective way of ensuring that members still support the society and want to be members. Alternatively, the membership rules of the society can include other requirements that ensure only those who express an interest in membership remain as members.
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