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What takes place upon resignation or termination of membership?

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What takes place upon resignation or termination of membership?

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A member may resign membership by giving written notice to the Club. Resignation shall be effective as of the date such membership is redeemed by the Club as provided in the membership plan. A resigned or terminated member (other than an expelled member) shall continue to be entitled to all privileges of membership and shall pay all membership dues, assessments and other charges until the consummation of the redemption of such membership by the Club, including the deposit refund.

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