Yeah, to elaborate a bit more, this is a group I got involved with through getting my PPL. There are probably 50 of us split into 3 different clubs. Everyone is "friends". Some really good pilots, good instructors, and good people. About 6 years ago I was in another club (part of the same overall group) and a kid bent the plane on landing, and through a series of events the club folded. My current club plane was owned by two people at the time, and they opened it up and brought on 8 new owners, for a total of ten. That's when I bought my way in.
Two of the current members - the pilot who got ****ed at me, and the maintenance manager - were the original owners. And though we bought in, I've always been treated like they're doing me a favor letting me fly it.
We collect information annually for insurance: everyone has to give their medical cert date/status, certificate level, total hours and hours in the last 12 months. The maintenance manager takes care of that. He's a business owner and a diligent guy and I have no reason to believe things are not taken care of properly. We get monthly statements showing who flew, and all outstanding balances. So that part is transparent.
We have a lot of trouble collecting payment. As I said, there are no rules, that I know of anyway. So people will go months and in some cases years without paying even their monthly dues. We had one person $3k back, another $2,500. In the last year everyone has gotten back current. But based on this and some other issues (collapsed strut going through at least 4 annuals) I have asked and asked and asked, can we have an owner's meeting? Let's get everyone together and discuss. To no avail.
Where I stand personally is that this is a great, cheap flying option. Not a great cheap flying option, but a great and cheap flying option. I know an IFR 1966 Cherokee isn't much to a lot of folks, but I grew up in Cherokees and short of winning the lottery, owning and flying one is a dream come true. Certainly not something I can afford to do on my own right now. And as I mentioned, there are ten owners, and only three of us (including myself) have flown the airplane more than 5 hours in the last year. So I basically feel like I have my own airplane for dirt cheap, save for the fact that I clearly have no say in anything.
So first step is to request a copy of the LLC agreement and the insurance. I want to see what both say. Because truly I have no idea. I have no idea if I'm even listed as an owner/shareholder.
And then I really have two options. First is to just ignore all this BS and keep flying this airplane. I'm basically not talking to any of these people ever again. I can schedule online, pay my bill online, so screw 'em. Just keep flying and pursue my flying goals in the airplane. Or, based on what I find out, make a choice to sell.
Really this is a situation of everything is great, aw you're my buddy, hey, love ya pal, until you ask me one question I don't like. Which says to me the roots of the relationship are not deep at all. This one stings, I won't lie. I like these people. They've been "friends", mentors, people I fly with, hangar fly with. And then one question and I get a truckload dumped on me. So as far as the relationships go, they're done. I don't do superficial, and I clearly thought there was something here that is not there.
Again, many thanks for the helpful advice. It's appreciated.
