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ARTICLE III - MEMBERSHIP SECTION 1. Membership: Every person or entity who is a record owner of a fee interest in any lot which is subject by covenants of record to assessment by the association shall be a member of the association. The foregoing is not intended to include persons or entities who hold an interest merely as security for the performance of an obligation. No owner shall have more than one membership. Membership shall be appurtenant to and may not be separated from ownership of any lot which is subject to assessment by the association. Ownership of such lot shall be the sole qualification for membership. SECTION 2. Suspension of Membership Rights. During any period in which a member shall be in default in the payment of any annual or special assessment levied by the association, the voting rights and right to use the common area and its recreational facilities of such member may be suspended by the Board of Directors until such assessment has been paid. Such rights of a member may also be suspended, after notice and hearing, for a period not to exceed thirty (30) days, for violation of any rules and regulations established by the board of Directors governing the use of the common area and facilities. |
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