RC's portfolio membership isnt really set up like a conventional DC. (of course they have huge differences in setup, even including some that are like REITs.) basically RC's is just DC-style, in terms of being exchange-free. RC deeds the portfolio memberships like the regular fractionals.
from another lawyer >
Very odd legal structure. I've not ever seen a trust concept combined with deeds for those with an interest in the trust. Maybe this is common in Florida. Does RC have part ownership or a beneficial interest in the trust? Can owners of a portfolio membership be assessed?
http://www.destinationclubforums.com...html#post24876
more details & discussion over there
edit - point system is a joke. 365 values per accommodation. also, it appears that the current dues will see a
very dramatic increase.