In 2006, the equity owner members of the Lakewood Oaks Golf Club, Ltd I, began seeking a buyer for the course. After an extensive discovery period, the LPOA made plans to acquire the course, making an investment to protect homeowners in perpetuity by controlling the course.  The LPOA files as an 1120(h) nonprofit, and Lakewood Oaks Golf Club I, Ltd was a 501c7. However, only another 501c7 can buy a 501c7. Therefore, the LPOA established the Lakewood Holding Company (LHC) as a 501c7 LLC. The LHC purchased the assets of the Lakewood Oaks Golf Club, Ltd I. from its equity owners. The name became “Lakewood Oaks Golf Club.”  The LPOA Board of Directors became the BOD for the Lakewood Holding Company (LHC), and became responsible for the wellbeing of the Lakewood Oaks Golf Club.  The LHC has successfully operated the facilities as a private golf club since its acquisition.  After this acquisition in 2007, many of the equity owners rejoined the Golf Club after its sale. The Golf Food & Beverage fee of $100/qtr was canceled. Additionally, the 2400 households (and all future residents) of the LPOA became automatic social members of the Golf Club facility in perpetuity, where they could dine and use the clubhouse facilities, also without a quarterly fee.  This facility had previously been prohibited from residents without a membership.