Are paid membership deposits refundable upon resignation?
Yes. The deposit paid by the initial purchaser of each Club membership will be 100% refundable. Resale purchasers of a membership (i.e., persons who acquire a resigned membership that is reissued by the Club) will receive a refund of 80% of the deposit paid upon resignation. If not earlier resigned, all members will be entitled to a 100% refund, without interest, of the membership deposit paid by the member 30 years after the date of their admission to the Club. Club members may choose to continue membership privileges at the end of the 30 year term by leaving the membership deposit with the Club, in which case refunds will be calculated as described above.
