Bylaws: Difference between revisions
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AMENDED AND RESTATED BY-LAWS OF THE FAIRWAY FARMS SWIM AND TENNIS CLUB AS OF | AMENDED AND RESTATED BY-LAWS OF THE FAIRWAY FARMS SWIM AND TENNIS CLUB AS OF JANUARY 10, 2022 | ||
==ARTICLE I - NAME== | ==ARTICLE I - NAME== | ||
The name of this Corporation shall be the FAIRWAY FARMS SWIM AND TENNIS CLUB, hereinafter referred to as the "CLUB". | The name of this Corporation shall be the FAIRWAY FARMS SWIM AND TENNIS CLUB, hereinafter referred to as the "CLUB". | ||
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===Section 1=== | ===Section 1=== | ||
<ol type="a"> | <ol type="a"> | ||
<li>The annual dues of Fairway Farms are $ | <li>The annual dues of Fairway Farms are $550. These dues, along with the capital assessment fee as described in Article VII, Section 1(g) are due by March 15 of each year. A member may also pay dues in monthly installments of $200.00 each, with the first installment being due on March 1. The member who wishes to pay in monthly installments shall submit three checks payable to Fairway Farms, dated March 1, April 1 and May 1, and submit all three checks prior to March 1. The club will hold these three checks and present them to the bank for payment after the check dates. The member may either submit a fourth check dated March 15 for the capital assessment, or may add the capital assessment to the first check dated March 1. No installment payments will be accepted without the capital assessment check. Under either option, the envelope must be postmarked by the due date in order to avoid late fees.</li> | ||
<li>At the beginning of each year the Board of Directors shall establish dues and fees for each class of membership for the ensuing year. However, without the approval of the membership, the Board of Directors may not increase the dues and fees for any year by more than 10% from the immediately preceding year and in any case by more than 25% in the aggregate in any 5 year period.</li> | <li>At the beginning of each year the Board of Directors shall establish dues and fees for each class of membership for the ensuing year. However, without the approval of the membership, the Board of Directors may not increase the dues and fees for any year by more than 10% from the immediately preceding year and in any case by more than 25% in the aggregate in any 5 year period.</li> | ||
<li>Dues and fees shall be sufficient to provide for the necessary operating expenses of the Club and the proper maintenance and improvement of its property, and such dues and fees shall be payable by such date as the Board of Directors shall determine (the "Due Date"). Any member who does not submit payment as described in section 1(a) or other indebtedness shall be subject to a 15% penalty of such delinquent amount and the same shall become immediately due and payable. Until such time as all such fees, dues, indebtedness, and penalties are “paid in full,” the Member shall be denied use of all Club facilities for that year’s season. Under no circumstances shall a member that is not “paid in full” be admitted to the club or participate in club activities.</li> | <li>Dues and fees shall be sufficient to provide for the necessary operating expenses of the Club and the proper maintenance and improvement of its property, and such dues and fees shall be payable by such date as the Board of Directors shall determine (the "Due Date"). Any member who does not submit payment as described in section 1(a) or other indebtedness shall be subject to a 15% penalty of such delinquent amount and the same shall become immediately due and payable. Until such time as all such fees, dues, indebtedness, and penalties are “paid in full,” the Member shall be denied use of all Club facilities for that year’s season. Under no circumstances shall a member that is not “paid in full” be admitted to the club or participate in club activities.</li> | ||
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<ul> | <ul> | ||
<li>Due Date through June 15 = 100% of Dues and Fees</li> | <li>Due Date through June 15 = 100% of Dues and Fees</li> | ||
<li>June 16 | <li>June 16 through June 30 = 80% of Dues and Fees</li> | ||
<li>July 1 | <li>July 1 through July 15 = 60% of Dues and Fees</li> | ||
<li>July 16 | <li>July 16 through July 31= 40% of Dues and Fees</li> | ||
<li>August 1 | <li>August 1 through August 15 20% of Dues and Fees</li> | ||
<li>August 16 through close of | <li>August 16 through close of Club for the season - no Dues or Fees required.</li> | ||
</ul> | </ul> | ||
Provided that the total amount of Dues and Fees paid by the former Member and the new Member shall not exceed the total amount of Dues and Fees payable to the | Provided that the total amount of Dues and Fees paid by the former Member and the new Member shall not exceed the total amount of Dues and Fees payable to the Club for the year for each membership.</li> | ||
<li>A Capital Improvement Fee of one hundred dollars ($100 | <li>A Capital Improvement Fee of one hundred dollars ($100) is to be paid by each member in cash or other conditions as established from time to time by the Board of Directors as pursuant to the vote of the members at the General Membership meeting held in 2020 and continuing on a yearly basis until amended as outlined in this Article. The Capital Improvement Fee will be used toward pool renovations and other improvements or repairs necessary to function as voted by the Board of Directors.</li> | ||
<li>A Capital Recovery Improvement Fee of one hundred dollars ($100) beginning fiscal year 2022 (which begins December 1, 2021) and beyond is to be paid by each new Member Bond in cash or other conditions as established from time to time by the Board of Directors.</li> | <li>A Capital Recovery Improvement Fee of one hundred dollars ($100) beginning fiscal year 2022 (which begins December 1, 2021) and beyond is to be paid by each new Member Bond in cash or other conditions as established from time to time by the Board of Directors.</li> | ||
</ol> | </ol> | ||