What is a member-owned or equity club?
In a member owned or equity club, each Equity Member has an undivided ownership interest in Parkland Golf Club and voting privileges. The Parkland Golf Club Facilities are operated under the direction of a “Board of Governors.” Control of the Board of Governors will initially be retained by WCI and will be turned over to the Equity Members (‘The Turnover”) when WCI has issued all the authorized Equity Memberships in the Parkland Golf Club and has conveyed all the homesites and residences in Parkland Golf and Country Club. Each Equity Member shall have one vote. There shall be no weighted voting.
