Can members be assessed for operating deficits or capital improvements?
No. Members will only pay membership dues, fees and other charges established by the Club from time to time. Members will not be subject to any liability for operating assessments for the costs and expenses of operation of the Club or the Club Facilities. The Company will pay all operating deficits incurred in the operation of the Club Facilities and will retain all operating revenues resulting from operation of the Club Facilities. Members will not be subject to any assessments from capital improvements, repairs or replacements unless approved by a vote of a majority of the total number of members who are in good standing.
