The Corporate membership shall be for a period of 15 years only. Thereafter the Corporate Member must pay the entrance fee that exists for a new Corporate Member as if they are enrolling afresh.
The admission of a Corporate member shall be in conformity with the rules of admission applicable to a permanent member.
A Corporate member is entitled to additional memberships if the Committee of the Club, in its sole discretion, agrees to grant the same. Each membership is entitled to nominate two representatives to the Club whose enrolment is subject to the approval of the Committee. However, the Corporate member shall be entitled to only one vote for balloting purposes.
A corporate member shall cease to be a member of the club upon its dissolution or liquidation.
The term ‘corporate member’ shall mean a public limited company with a paid up share capital of Rs. 5 crores or a public sector or government undertaking having an office or factory in Mangalore.
P.S: Amendments to Rule 3.2 paragraph (i) and (v) are prospective and shall not affect the existing members as on 29.1.1994 (upto MC 098) and till 22.09.2007 the membership is for a period of 25 years (MC 232 and MC 381) under this category.