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Discussion Starter · #21 ·
and something that needs to be addressed thoroughly. First, in the Articles of Incorporation some of the basic tenants of the group must be addressed. These should be minimal because they are the most difficult to change, but things like type of property ownership and basic rights & responsibilities of shareholders should be there. Second, there is the Bylaws of the corporation where more detailed aspects of rights & responsibilities would be addressed. These would be more easily changed by shareholders and could address in greater detail things like what would happen if someone or their guest broke the rules. For example, what would happen if the teenage son of a shareholder tore up a leased cropfield with a dirt bike, so that the other members would not be left having to pay the farmer for his losses. You could even include procedures for buying out a member, for cause, if it should come to that. This would give the group some legal standing if one of the shareholders repeatedly disregarded the rules. This has to be done with full disclosure and good legal counsel to assure everyone's rights are protected as this can make or break the whole project.

Further, I agree that each property would have it's own set of unique bylaws, among other issues. Each property would have it's own unique features to be addressed, such as water-frontage, wetlands, soil types, road frontage, habitats, etc.... Each group of shareholders may have a different set of values as well. For example, one group may be interested in keeping horses, another may be waterfowl hunters, yet another may desire shooting ranges, or upland bird hunting, the list is nearly endless. The concept can be very flexible, though if I am involved it will definitely place an emphasis on natural resources conservation.
 
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