ok so i got a response, this is word for word what Lynn from COMAS wrote, it seems to work as the have been doing it for a while with only minor modifications.
Erik,
I'm happy to tell you anything I can. To start with, I am the 4th keeper of the program and the second keeper of the tank. When the program started, people contacted the donor chairman to bring frags and they basically swapped on sight with people requesting frags..... You can guess quickly the problem, not everybody has the best tank husbandry and somebody gets home with a frag with a frag with a pest and words hit the board..............
So the tank was purchased. The basic premise is this: To request frags from the program you must meet these basic requirements;
-- must be a paid member for the current year;
--must have a tank with appropriate water chemistry and lighting for the frag you are requesting (ie, no pc lights for sps);
-- must be willing to grow the frag till it naturally splits or it can be fragged (we'll help you if you need it) and return at least one frag to the program)-- then the coral is yours;
However, we highly solicit members for donations of corals they have received from the program and those they haven't to keep the program growing. We aren't shy about hitting up people who have been around awhile or even lfs for pieces since most of our requests come from people in their first year.
That said, all 4 of us have done it different from there. 1 or 2 were militant and hounded people if they didn't return frags. I see it more as a club benefit to new people. If they kill them or don't bring them back, they may not get to take more out for awhile, but not forever.
We have a website that includes a section on the donor program. It has a page for each coral with a picture of a mother colony and description along with a care guide-- flow, lighting etc.....
It has been down for a while, under construction for updating, so I started putting up a thread each month. Our meetings are saturday night. I start a thread on the monday before and add to it each day till friday. I put up pictures of actual frags. When I get a descent macro shot, even dog pieces fly out the door. I feel like one of those online stores except I don't photoshop( I know, don't they all say that). It is labor intensive to take new pics each month, because I get new pieces in and stuff grows or I frag it. My the response is awesome, in person and on the forum. So, I'll keep it up even when the website is back up.
I do not bring people to my house. I only receive and give out frags at the meeting. I take a styrofoam fish box with frags in bags just like they came from lfs. I have 2 clip boards. People sign in corals they are donating on one and sign out corals they are taking on the other. The give their name, their RC/COMAS name and name of the coral(s) they are giving/taking. Their individual bags go in a paper sack(local grocery store donates the small ones in 2 sizes), folded over and stapled with a half sheet of paper with a disclaimer about trust no one, even me---- dip your corals, etc.....
It looks promising. As I was the one that suggested the idea I will be the first one to donate equipment and coral to who ever ends uptaking charge of the program (if we decide on a program)
I like the controls they have in place and agree they would be needed. Great thing to add to the agenda and discuss at the upcoming meeting! 
