Section 1, Payment of Club Bills.

 

      All financial obligations to the Club must be paid within 20 days of the due date.  A penalty charge shall be imposed on any bill 20 days or more past due.  The penalty charge will reflect the monetary situation prevailing at the time and will be determined by the Board.

 

      A list of such debtors after 20 days shall be turned over to the Board for action.  The Board may take action on the remission or suspension of the indebtedness according to the merits of the case and shall have the right to suspend or require forfeiture of membership of any member who does not meet his indebtedness to the Club.

 

      In the case of proprietary members holding refundable certificates and who resign or for any reason forfeit membership, their indebtedness to the Club shall be deducted prior to any refund being made.  (Amended 5/19/98).

 

Section 2, Suspension.

 

      Any member’s account that becomes two months delinquent is subject to suspension by the Board.  Reinstatement at the conclusion of the suspension will be contingent upon payment of all outstanding obligations, including dues that are accrued during suspension, plus two-months penalty dues.