This is bingo money. The purpose of the club is to make decisions you are not used to making with your own money. You will not get rich on the club money. This money is there to help you learn and build your confidence in investing. Once you feel empowered by your acquired knowledge, you will begin to invest on your own and see the results on a grander scale.
Most clubs have all officers sign the signature card and require two signatures on a check.
You will decide as a group whether to use a full-time broker, discount broker or online broker. Most investment clubs use either a discount broker or an online service, since they want to make their own investment decisions. The president will open and moderate meetings. The vice president will take care of social events and fill in when the president is not available. The secretary will keep a notebook with minutes of each meeting.