A couple of real mis-informed people - incorporating a "racing club" is not the brightest legal move on their end - I would love to read their incorporation papers - I will bet they are boiler plate documents. Nothing like putting your personal assets as an club officer out there for the world to glom onto - my guess is they hired some pretty low budget attorneys who a just filled in the blanks for them and said there ya go - you is in-corp-orated!