The OTLBC is a private Ontario corporation with share capital and operates on a not-for-profit basis. The Club is governed by a Board of Directors that is elected by the shareholders each year at the Annual General Meeting (AGM) of the Corporation held in February.
The shareholders of the Corporation include the founders who bought shares in 1939 to finance the Club. These shareholders were allowed up to a maximum of five shares, are not required to be members of the tennis club and retain their shares in perpetuity. These 1939 shares can be passed down to a shareholder’s heir, assigned to another individual or donated back to the OTLBC.
In 1989 the Club issued a second class of shares, which are available to members, with a limit of one share per member and an expiration clause if the person is no longer an active member for one year. Therefore to own and retain a 1989 share, one must be an active member of the club.
The Corporation may decide from time to time to make additional 1989 shares available for purchase to members of the club, but is not obligated to do so. Any such sale of shares is reviewed by the Board of Directors and must be deemed to serve the best interests of the Club. People interested in purchasing a share are invited to request and complete a share application form (available from the General Manager).
Members of the club are clients of the Corporation and must pay on an annual basis for the use of the facilities and to receive services offered by the club. Any member can get involved in the club and volunteer to assist with any one of the committees or as a round robin coordinator. To contribute your time and energy to improving the club, you are encouraged to contact firstname.lastname@example.org.
Board of Directors
The Board of Directors is responsible for the Club’s strategic leadership and long-term planning, governance, financial operations and viability, and the overall health and growth of the Club. The members of the Board are shareholders of the corporation.
The Member Committee
The Member Committee is a separate group of volunteer members who organize and manage a range of tennis, pool, and social activities at the Club.