Quote:
Originally posted by ktsnake
Sounds similar to most groups.
Sigma Nu maintains a foundation that has the ability to loan money to housing corps for houses or whatever. However, we have to maintain our own local house corps.
It's a legal shield to the national organization.
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Yes I know we all break down into corporations for each house, but I want to know which national actually OWNS each house. There were a lot of fraternities that folded during the Vietnam era because they didn't have corporations for each individual chapter house, mortgaged each new house with a previous house, and when membership went down a domino effect took the entire fraternity down.
-Rudey