ARTICLE IV PAYMENT OF DUES AND CHARGES
4.1 STATEMENTS AND PAYMENTS
Monthly statements are prepared on the last day of each month and normally mailed within five (5) to seven (7) working days thereafter. Payment is due and must be received (not merely postmarked) by the last business day of the month received. A 10 percent (10%) late charge will be added to all outstanding balances not timely paid each month. Notwithstanding the foregoing, the Club may place any Member on a cash basis for any or all services otherwise provided for credit, at any time. Members may elect to have their dues and charges charged directly to a credit card. Management may, at its election, require all Members to keep an active major credit card number and billing information on file together with an authorization for Management to bill to such credit card for purposes of collection of delinquent amounts pursuant to the provisions of Section 4.2(b) below.
4.2 PAST DUE, DELINQUENCY AND REVOCATION
(a) 30-Days Past Due. If a Member's account becomes thirty (30) days past due, the Member will be notified by mail and/or telephone that his or her charging privilege are subject to suspension.
(b) 60-90 Days Past Due. Any Member whose account becomes sixty (60) days past due will be notified by certified mail and/or telephone that his or her membership privileges will be suspended if payment is not received within 10 days. The fact of this delinquency may be posted at the Club. The Club may automatically bill any Member's account which is more than sixty (60) days past due to any major credit card of said Member on file at the Club. (c) 90 Days Past Due. The membership of any Member whose account is more than ninety (90) days delinquent will be notified by certified mail and telephone that his or her membership privileges have been suspended and that his or her membership will be revoked and forfeited if payment is not received within 10 days. Such forfeiture shall not prejudice or affect, in any manner the right of the Club to collect such delinquent indebtedness. The Club may automatically bill any Member’s account which is more than ninety (90) days past due to any credit card of said Member on file at the Club. (d) Frequent Delinquency Revocation. The membership of any Member whose account becomes more than sixty (60) days past due three (3) times in any twelve (12) month period either consecutively or not consecutively, may, at the Board's election, be revoked and forfeited. Such forfeiture shall not prejudice or affect, in any manner the right of the Club to collect such delinquent indebtedness.
4.3 RETURNED CHECKS
All Members shall be charged an additional twenty Dollars ($20.00) on their statement for any checks returned from the bank for insufficient funds or the Club's actual cost of recovery, whichever is greater.
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