Section 4 - Club Finances
Section 1 - Mission Statement
Section 2 - Rules of Operation
Section 3 - Club Organization and Structure
Section 4 - Club Finances
Section 5 - Teams
Section 6 - Team Finances
Section 7 - Rules Relating to Parents/Guardians
Section 8 - Rules Relating to Players
Section 9 - Dispute Resolution

4.01 Permitted use of Club funds

The Club is a non-share capital corporation, and cannot have any shareholders who are entitled to profit from its operation. All monies earned by the Club must be used to meet its ongoing obligations or otherwise retained and applied for purpose(s) set out in its Letters Patent. The monies may not be directly or indirectly be paid out, loaned or otherwise distributed to its directors, officers or members or any persons not dealing at arm’s length with any of them, unless specifically disclosed in the financial summaries of the Club.
Regardless of such disclosure, any such payments or distributions may not contravene applicable law(s) or the rules of the GTHL.

4.02 Registration and Sponsorship fees

(a) Player Registration Fee
The Club shall determine the Player Registration fee at the beginning of each year to cover the basic cost of playing hockey during the regular season and playoffs. This fee shall include, but not necessarily limited to the cost of practice ice, GTHL team registration, GTHL Insurance, annual banquet for the player, Association awards, team picture, referee and timekeeper fees and Club administrative charges.
The fee shall be made known to the player and the parent/guardian of the player at the time of registration.
Payment terms for this fee shall be set by the Club at the beginning of each season and must be met in order to register the player with the Team.
(b) Team Sponsorship Fee
The Club shall determine the Team Sponsorship fee at the beginning of each year to cover the cost of game jerseys and game socks and Club sponsorship.
This fee shall be made known to the Team prior to the commencement of the tryouts for the following season.
(c) Team Deposit
The Club shall determine a Team Deposit amount at the beginning of the year that the Club will maintain on account for the team to cover incidental costs such as permission fee for the Tournament Permission Form and similar charges. The Club will refund the balance of the deposit at the end of each season.

4.03 Referee and Timekeeper Fee

The Club shall disburse the Referee and Timekeeper fee that is included in the Player Registration fee outlined in paragraph 4.2(a) to the Team Manager once the Team account is in good standing. This disbursement shall be by cheque and payable to the Team.


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