The Masters Club, Inc. is the successor to the 5 Million Dollar Club, an unincorporated organization that was organized in 1990. The organization, by a two-thirds vote of those members present, at a meeting of the membership duly called, on June 12, 2002, voted to incorporate as a non-profit entity and to change their name and membership requirements as set forth herein.
The volume needed to qualify for 2003 Members will be Six Million Five Hundred Thousand Dollars ($6,500,000.00) in settled sales for 2002 as was determined by the increase in the average sales price since 1990. If in future years an increase in the average sales price warrants an adjustment, the volume needed to qualify may be increased with a two-thirds majority vote by the Board of Directors.
Agents will qualify with fifty (50) settled units in a calendar year from January 1 to December 31 in any given year unless adjusted by the Board of Directors when addressing future volume increases. Agents selling as a Team would each need to qualify for membership by volume.