Section 1.
Membership.
Every person or entity (except the Association) who is an Owner of Record
of a fee or undivided fee interest in any residential lot which is subject by
covenants of record to assessment by the Association, shall be a Member of the
Association, provided that any such person or entity who holds such interest
merely as a security for the performance of an obligation shall not be eligible
for membership.
Section 2.
Association
Rights. As an entity the
Association is the Owner of Record of the Common Areas and Community
Recreational Facilities and may be the Owner of Record of a fee or undivided fee
interest in properties which are subject by Covenants of record to assessment by
the Association; however, the Association shall not be required to pay any such
assessments, shall not enjoy any membership privileges and shall not be entitled
to vote any such properties owned by the Association as an entity.
Section 3.
Member
Privileges. Each Member in
good standing shall be entitled to the use and enjoyment of the common
properties and facilities as provided by deed and as set forth in the
Declaration applicable to the residential properties.
Membership shall entitle the family of the Member to the privileges
extended by the Association to the Member.
Section 4.
Lien on Owner’s Property.
When a Member ceases to be an Owner, such person’s membership shall
cease, but such person shall remain liable for all Association assessments
incurred prior to such person no longer being an Owner.
In addition thereto, should any sale or exchange of a property occur, the
outstanding balance due from the Owner as assessments shall become due and shall
be a valid lien on the property until paid.
Section 5.
Record Date.
Each Member who is in good standing fifteen (15) days prior to the date
fixed for any annual or for any special meeting of the Association, shall be
entitled to attend such meeting.
Section 6.
Voting
Privileges. Each property
entitles the Owner(s) of Record [Member(s)], to one vote.
In no event shall more than one vote be cast with respect to any one
property. If there are two or more
Owners of Record for the same property, they shall determine amongst themselves
who will be the Voting Member entitled to cast the one vote for their one
property.
Section 7.
Associate
Members. If not otherwise a
Member, each of the following shall be entitled to associate membership in the
Association:
(a)
Persons who may be tenants or regular occupants of residents of Members
in good standing situated within Emerald Lakes.
(b)
Persons who by virtue of contractual agreements with the Association are
entitled to membership in the Association.
(c)
Associate Members shall pay associate membership dues or other charges as
assessed by the Board of Directors by resolution from time to time.
Associate Members shall have no vote or right to notice of any regular or
special meeting of Members. The
privileges and duties of Associate Members shall be established from
time-to-time by the Board by resolution. The
privileges and duties of Associate Members need not be the same as those of
Members.