1) there's no such thing as a "Cheeze society"; those slots are reserved for profs and other people who buy passes to them. The only people I ever see using those spots regularly are old people and Bob, a 6th year in Fizz.
2)
afaik last checks are around 6pm
3) As for consequences, I'm really not sure anymore what with UBC appealing the court decision that had previously rendered them unable to hand out tickets....
I've used those spots last year from like 9pm-2am when studying for finals in civil design studio or processed cheeze and never got a ticket, but the one time I was there from 5-9pm I got a ticket timestamped 6:09. But again that was last year and after all these court hearings and appeals the protocol may have changed.