Non-Equity Golf Membership
All non-equity memberships shall be limited to 200 persons. Holders of this membership are entitled to all privileges of the club, except those privileges reserved exclusively to the certificate membership. Holders of this membership shall have no proprietary interest in the physical properties or assets of the club. In the event of dissolution of the club, this membership class shall not share ratably in the proceeds of any dissolution. Members in this category may begin purchasing a stockholders certificate and have six years to pay for the certificate interest-free.
The payments must be made annually in an amount not less than 1/6 of the certificate price. Monies paid toward the certificate are non-refundable until the certificate is paid in full. Members will not have voting privileges until the certificate is fully paid. Upon payment in full, members will be automatically transferred into certificate class.
If the member is under the age of 45 there is a 4% discount on dues and all capital fees for each year under 45 that the member is on January 1 of the current year. If the applicant for this membership is married, the age of the older spouse will be used in determining qualification for the discount rate.