Membership Requirements

• All members must be accredited investors as defined in Regulation D under the Securities Act of 1933, or SEC Rule 501, and must be able to sustain the financial risk inherent in their investments.


 

• Members may be angels from the Bluegrass region and/or alumni of the University of Kentucky living elsewhere in the United States.


 

• Each member will pay an annual fee of $1,000 which will be used to help cover the cost of the administration of the membership.


 

• Founding members will be all members who have paid their membership dues on or before December 31, 2003.


 

• Interested parties may apply for a membership or be sponsored by an existing member. All new members must meet the membership requirements and must be elected by receiving a majority of votes of the existing membership.


 

• Two membership classifications will be available, Active and Passive. All members are expected to provide timely feedback on company business plans presented for review; bring to the group potential deals of which they have become aware; and promote the goals and objectives of the BGA in Central Kentucky. Active members are expected to attend at least 50 percent of the regularly scheduled meetings of the membership and periodically participate in due diligence.