Malibu#27
Premium Platinum
Yep gotta be something in the constitution - as assets of an incorporated association belongs to its members and on winding up, the proceeds go to the members unless a specific clause says otherwise. Did the SANFL lend them monies and they take out security against the loan, and any funds would be less than or equal to the loan?? These are the only two ways the SANFL would get any funds. It just doesnt sound right.
Yeah I suspect/hope you're right and wires are crossed . The constitution i know has nothing as I reviewed it for them several years ago. No money lent all earnt through fundraising.