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Originally Posted by LXAAlum
SMU had this happen to them for a while in the late 80's early 90's in order to keep their charter.
Heard of it from time to time at other chapters. However, a HC should never, ever have "lordship" over chapter finances without some formal due process taking place - it shouldn't be arbitrary.
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Shawn is an interesting premise, but if there is a need, is it not true that some form of Alum may step in and take control no matter what they are called?