That is how our functioned for a while. Some time during the 90s they took conrol of the financial books. Right now they skim their cut off the top before giving us back the % they deem we should recieve. Tony Dunn, who I think is recieving the order of merit this year, is the one responsible for this.
I've seen it in a Control Board situation, where a chapter is more or less placed into receivership. I was curious about the non-control board situations.
An Alumni Advisory Board shouldn't be doing this as they are there to advise not supervise.
What I think may be going on in the instant situation is that the dollars go to a management company which then dispenses funds back to the chapter with the concurrence of the House Corp. Not sure yet.
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.
Hybrid Mode
