Medical Leave of Absence The Club allows Equity Members with qualifying medical conditions to downgrade to a medical hold. Such a leave of absence is allowed for a maximum of six months. Please see the membership office for more information. Resignation Members may resign at any time upon providing the Club with thirty (30) days prior written notice. Termination and resignation shall be effective on the first billing date after the 30-day notice. No resignation shall be effective until the date (the "Effective Date") that the Member's financial obligations to the Club have been settled. No refund or proration of any deposits, fees or dues will be made to any Member resigning from the Club. If giving a 30-day notice from the next billing date, Equity members must also sign an Equity Release Letter. Transfers a) With respect to a family membership, upon the death of the primary Member, the membership shall continue and said spouse shall become the primary Member. In the event the spouse elects not to become the primary Member and retain the membership, the spouse shall be required to provide notice of such election. Upon receipt by the Club of said notice, the decedent's membership shall terminate. Upon the death of both the primary Member and the spouse of the primary Member, the membership shall terminate and may not be transferred to any heir or other person named in a will or bequest, and the estate shall have no interest in the membership with the exception of the Legacy Membership policy listed in Paragraph 3.05 b) In the event of a dissolution of marriage, the spouse listed as Member on the application and signatory on the Purchase Agreement shall retain membership privileges. If the Member does not want to keep the membership they may transfer it to the person listed as Spouse on their Membership Application with Committee and Board approval. The Member will forfeit all rights to their membership and in the event they want to become a member in the future, prevailing membership initiation fee, dues, and fees will be owed. If the Member keeps the membership the Spouse may apply for their own membership, prevailing membership initiation fee dues, and fees will be owed and the membership will be vetted and approved per the standard application process. Legacy Memberships Equity member may pass their membership on to their child (by birth, adoption or marriage) by paying a transfer fee of 30% of the current initiation fee . Legacy candidate will be vetted and approved per the standard application process. Repurchase a) Subject to the provisions of the Bylaws, the Board reserves the right to terminate any membership for any reason it deems is in the best interest of the Club, by paying to the Member the then current Membership Initiation amount. This right of repurchase and buy- out may be exercised with or without the Member's permission, even if the Member is in good standing and has paid all outstanding dues and charges.
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