Membership of Peninsula Ski Club Incorporated is limited to 28 debenture holders. Each debenture is a negotiable financial instrument. To ensure that members contribute to the ongoing maintenance and operation of the Peninsula Ski Club, the club constitution requires that only those persons who hold a debenture (and thus are considered to have made a significant financial contribution to the ongoing maintenance and operation of the club) may be registered as members of the club. From time to time debenture holders may choose to offer their debenture for sale on the open market.
The sale of each debenture certificate is a private transaction between the two parties (purchaser & debenture holder) who privately negotiate the purchase price. If desired, prospective purchasers are welcome to consult the club President to gain some idea of the frequency and value of recent sales.
Upon agreement being reached between the purchaser and debenture holder for the sale of the debenture, the purchaser must make application to the Committee for membership of Peninsula Ski Club Inc. and, upon approval of the proposed new member by the Committee (which is not necessarily bound to approve all proposed new members but would not be expected to unreasonably refuse approval of the new member), the Club Secretary registers the transfer of the debenture, supplies a new debenture certificate to the purchaser and registers the purchaser as a member of the club.
When a debenture holder wishes to sell their debenture, they may register their intent by posting details on this page of the Peninsula Ski Club web site.
Additionally, prospective members may register their interest in purchasing a debenture with the Club Secretary.