Bylaws: Difference between revisions
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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 $585. 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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<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> | ||
===Section 2=== | ===Section 2=== | ||
Candidates for Active membership in the Club may be required to pay a nonrefundable application fee upon making application for membership. Moreover all applicants for Active and Associate Membership in the Club shall be required to pay a non-refundable initiation fee upon being granted membership. Notwithstanding the provisions of Article VII Section I (a) to the contrary, the amount of the application fee, if any, and the amount of the initiation fee shall be determined by the Board of Directors from time to time provided however, the amount of the initiation fee shall not exceed $50.00. | Candidates for Active membership in the Club may be required to pay a nonrefundable application fee upon making application for membership. Moreover all applicants for Active and Associate Membership in the Club shall be required to pay a non-refundable initiation fee upon being granted membership. Notwithstanding the provisions of Article VII Section I (a) to the contrary, the amount of the application fee, if any, and the amount of the initiation fee shall be determined by the Board of Directors from time to time provided however, the amount of the initiation fee shall not exceed $50.00. | ||