Link Hills Country Club has been "restructured financially," with a number of members buying shares in a newly-created holding company, Link Hills Properties, LLC, according to David Rivers, who was president of the club's board of directors in 2007 when the stock-selling began.

Ken Earl is the club's 2008 president.

About 70 members have bought shares since last October in Greene County's only private country club, Rivers said.

He emphasized that Link Hills, which has a clubhouse, 18-hole golf course, swimming pool and tennis courts, continues to operate as before.

However, he said, with the added funds that have been invested by the shareholders, the clubs is able to pay off debts, and plan some improvements to its facilities.

Rivers said Bill Hickerson, president of Andrew Johnson Bank, is president of Link Hill Properties, Inc.

Rivers declined to say how much money had been raised by the sale of stock over recent months.

He said more shares are available for sale, but no one person or small group of people will be allowed to buy a controlling interest in the club.

Rivers said the financial pressures facing Link Hills Country Club, which has about 330 members, are typical for many country clubs in smaller communities, due to various long-term trends.

The financial pressures "we are facing are not unusual," he added.