Let me clarify.
There are 27,000 Social Members
There are 200 General Members.
To become a general member, you need to be a social member for 3 years, and then apply for general membership.
You have to be a General Member to be nominated to become a Debenture Holders.
There are up to a max of 20 debenture holders at any one time
Currently there are 16
Now, the board at the HBG is made up of 5 Debentures Holders and 2 from the floor
Social members can vote for the 2 directors from the floor
General Members vote for 5 board members from the 20 Debenture Holders.
It's a complex arrangement. But it has a structure. And it's democratic