Golf Club going bust

Grumpy_Old_Duffer

Hope I'm in the right group.
I am a member of a Golf Club (It's a Members Only club, not a commercial club). Membership fees are due 1st April. There is a real possiblitity that the Club may fold, due to members (incl. me!!) not paying fees due to Coronavirius and it's possible impact in the near future. The club is asset rich, but cash poor. If the Club did fold, would it be prudent of me to take a Social membership instead of a Full membership, so I still have an interest in the Club should it fold and be sold.
My thinking is that by keeping a Social membership, if the Club did fold, I would (or should?) be able to benefit from any sell-offs by being a member of a "Members Only" club.
Any advice appreciated.

newsgroupmonkey_

It all depends on the constitution. I'm a member of a completely different type of club.

In the event of the club folding, the assets and any money get evenly distributed amongst only full members (not associate or junior members).

If the club is asset rich, I can't see it necessarily going bust. I mean, if they furlough the staff, no costs there. They'll get relief from VAT and rates for the next 3 months too. So really, do they have any major outgoings?

Thrugelmir

Our Bowls club is treating 50% of membership renewals as a loan. The loan to be offset against the 2021/22 fees.