CB2BANK Investors Club Charter
CB2BANK Investment Club is an economic clan created and owned by Barron, owner of CB2BANK. It was created on January 30, 2005. The purpose of the Investment Club is to make profits for the shareholders and investors. Members of the Club will operate the various investment divisions within CB2BANK. This will include a bank which makes medium to long term loans, deposits from investors, and a Pawn Shop which will handle short term loans. Other divisions may be created later.
The Bank
Loans: CB2BANK will offer loans to customers with good credit. Loans will generally be one week duration, but no longer than 2 weeks. A finance charge of 10% per week will be the standard rate. Most short term loans, 0 to 6days, will be handled by the Pawn Shop. But if CB2BANK makes a short term loan there will be an automatic 3k $cb2 service charge, plus a 1.5% per day finance charge.
Deposits: CB2BANK will accept deposits at its discretion. Deposits may not always be offered by the bank. Deposits will accrue a 15% return over 4 weeks. Minimum term for a deposit is 4 weeks. Minimum amount the bank will accept for deposit is 100k $cb2. No maximum amount for deposit will be set, but this will be at the discretion of the bank.
The Pawn Shop
The Pawn Shop will handle most short term loans (0 to 6 days). A loan not exceeding the accepted current auction value of the item pawned will be given. The loan will accrue a finance charge of 1% per day --less than the banks short term rate because this is a secured loan with the item pawned serving as collateral. The loan can be repaid at any time and the item will be returned to the customer. If the loan is not repaid within 4 weeks, the loan will be in default and the item will be liquidated as compensation.
The Investment Club
Members of the CB2BANK Investment Club will share equally in the profits of the above investments. Ownership of the CB2BANK, Pawn Shop, and the CB2BANK Investment Club will belong to Barron, the principle owner and financer of the operations. Funds will be distributed from Barron to members to allow operations to begin. Those start-up funds will be returned to Barron when available along with 15% per month return on the capital.
The above supercedes and replaces previous descriptions regarding loans, deposits and bank operations. CB2BANK Investors Club members will abide by the rules and conditions as stated in this document. If a member leaves the Club he is not entitled to any of the assets of the CB2BANK, Pawn Shop, or CB2BANK Investors Club.
