EDGEWATER CLUB, INC. BY-LAWS
ARTICLE THREE: MEMBERSHIP
Section 5. A member is defined as the
owner of a lot which qualifies for membership and any of his or her resident
Section 6. A member in good standing is one who has paid
current dues and assessments, and has fulfilled any other obligations as
defined in Sections 8 and 9 of this Article, and is, therefore, eligible for all
benefits and privileges of membership. Any Article which refers
to the rights, benefits, or privileges of members shall refer only to
members in good standing. A member not in good standing shall be denied
these rights, benefits, and privileges.
Section 7. Persons renting a home from a member in good
standing shall have the use of the Club's facilities under the provision of
Article VI. Section15, and any other rules established by the Board of
Directors. If a member rents his or her home or uses it as a guest house, he
or she may not use the Club's facilities during the rental or guest period.
Facilities include all indoor/outdoor properties of the Club.
Section 8. Membership Dues:
Shall be paid in a lump sum prior to February 1 of each
(b) Full dues shall be charged to those who have homes
on lots and to those members who own vacant lots and use the Club's
facilities. Partial dues, at a rate of twenty-five (25%) , will be charged
to owners of vacant lots who do not use the Club facilities.
Members of record as of January 1st of each year, and those persons who
become member during the period January 1st to June 30th shall pay the full
annual dues applicable to that fiscal year. Persons who become members
during the period July 1st through December 31st shall pay 50% of the full
annual dues. Thereafter, they shall pay full annual dues.
(d) All dues not paid by February 1st of each year shall be deemed
delinquent. As soon thereafter as practical, the Treasurer shall send to the
owner, by Certified or Registered mail, a notice informing the owner that
the dues are delinquent and that 1-1/2% interest per month is being charged
until such time as the dues are paid Said notice shall further inform the
owner that the use of the Club's facilities are suspended until all
delinquent dues and interest are fully paid. Said notice shall be sent to
the address last provided to the Club by the member. It shall be the
responsibility of the member to provide to the Club their current address.
Said notice may be hand delivered at the option of the Treasurer. The
suspension of membership shall be binding on a party purchasing property
from a suspended member. As a condition of reinstating membership, the Club
shall require the suspended member or a party purchasing property from a
suspended member to pay all delinquent dues. A $1500 maximum reinstatement
fee may be substituted for the delinquent dues.
Section 9. Assessments
(a) Assessments are defined as an
additional charge, approved by the Board of Directors and the membership, to
mitigate a specific expenditure for the Club beyond the means of the normal
dues (i.e., hurricane damage, new building, etc.).
(b) Assessments shall be paid in a timely manner as established by the
Board of Directors.
(c) Assessments are charged to all lot owners.
(d) Assessments follow the same course of action as the dues, with the
exception of the due date. The Board of Directors shall define any
needed assessments. No maximum reinstatement fee will apply to assessments..
ARTICLE FOUR: MEETINGS OF MEMBERS
Section 1. The Annual Meeting of the Club shall be held
at 7:00 p.m. on the third Monday of January of each calendar year at the
Clubhouse. Notification of the Annual Meeting need not be sent to members
provided it is held at the time and place as specified herein. If the
Annual Meeting is to be held at a time and/or place other than that specified
above, members shall be notified in writing by mail at least fourteen (14)
days in advance of the meeting. There shall be regular monthly membership
meetings during each calendar year on the third Monday of each month at 7:00
p.m., unless changed for good reason by the Board of Directors , and notice
thereof shall be posted in the Clubhouse and/or announced at appropriate
Bylaws page 2