Police say they have found nothing criminal in the actions of Otago Bowling Club officials.
Bowls Dunedin last month asked the police to look at the distribution of funds from the sale of the premises and grounds of the Otago Bowling Club.
The club was formed in 1906 and folded last year due to insufficient members. The Otago Daily Times understands the club's buildings and land in Arthur St were sold for $350,000.
Detective Sergeant Brett Roberts said he had looked at the issue and there "is nothing criminal for us to investigate".
He said the matter had been referred to the Companies Office, in Auckland.
A Companies Office spokesman said it maintained a register of all incorporated societies, but did not have the power to intervene in civil disputes within societies.
"Civil disputes should be handled by society members or, potentially, in the courts," he said.
Bowls Dunedin president Gerard Simmons told the Otago Daily Times there were "no facts known yet. The matter is still under close investigation".
There has been speculation about the distribution of funds from the sale, and some was included in minutes from the June board meeting of Bowls Dunedin.
"It was totally incorrect and the minute was withdrawn an hour after it was sent out on email," Simmons said. "An amended copy was sent out the next day."
Simmons has dismissed the speculation.
"We can only surmise until we get the facts," he said.
"Until we have the exact position in front of us, there is nothing further that can be said."
The Otago Bowling Club was an incorporated society. Under its constitution, any remaining funds on liquidation were to go to Bowls New Zealand or another amateur body.
Bowls Dunedin wants to ensure that the funds from the sale are distributed according to the Otago Bowling Club's constitution.Bowls New Zealand community development officer Pete Thomson is acting as an observer for the national body on the matter.
"The issue is not in our control but we are aware of the constitution and we want to make sure that, constitutionally, things are done the right way," Thomson said.
"In this particular case, they weren't.
"That is why we reported it and asked police to investigate the disposal of funds from the sale of the premises and grounds.
"We just wanted to make certain that things were done correctly all the way through."
The Otago Daily Times has been unable to contact the last president of the club.
Other former members of the club committee contacted were not prepared to comment.
