Can members be assessed to cover any operating deficits or capital improvements?
No. Golf Memberships are not subject to any operating or capital assessments. The payment of dues, fees, clubhouse minimums, state taxes, and service charges, personal and other charges that the Club Owner may establish from time to time in its sole discretion is required to obtain and maintain membership privileges and is not a capital or operating assessment. With the exception of these charges, members are not subject to any liability or assessments for the cost and expenses of ownership or management of the Club Facilities. The Club Owner will pay all operating deficits incurred in the operation of the Club Facilities and will retain all operating surplus resulting from operation of the Club Facilities.
No. Members will not be subject to any liability for capital or operating assessments for the costs and expenses of ownership or 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. Annual increases in dues shall not be deemed an assessment.
