Page 11 - 2024 Membership Information Overview

T A X C O N S E Q U E N C E S O F A C Q U I R I N G A M E M B E R S H I P

The Club makes no representations and expresses no opinions regarding the federal, state or local tax
consequences of acquiring a membership or with respect to any Membership Fees, dues, fees or
charges paid to the Club. All persons acquire their membership subject to all applicable tax laws, as the
same may be amended from time to time. Accordingly, Members should consult with their own tax
advisors with respect to the tax consequences of any Membership Fees.

T R A N S F E R O F M E M B E R S H I P T O T H E C L U B

A Resigning Member may transfer his or her membership only to the Club. The Club will then seek to
reissue the membership. A Resigning Equity Member shall continue to be obligated to pay dues, fees
and charges until the membership is reissued. The Member may continue using the Club Facilities
upon the timely payment of applicable dues, fees and charges. Resignation of a Member is irrevocable,
unless otherwise determined by the Club. The Club will reissue memberships of Resigning Equity
Members on a first-resigned, first-reissued basis. The Club will deduct from the amount to be refunded
to a Resigning Member any amount which the Member owes the Club.

I F A L O C A L M E M B E R N O L O N G E R R E S I D E S W I T H I N 1 0 0 M I L E S O F D A L L A S ,
T E X A S

If a Local Member sells his or her principal residence and does not acquire a new principal residence
within 100 miles of Dallas, Texas, the Member may continue as a Local Member or convert to a
National Member if a National Membership is available. If a National Membership is available, and
the Member desires to convert, the Local Membership shall be deemed resigned. To the extent that the
amount paid for the Local Membership exceeds the Membership Fee then required for a National
Membership, the Club shall refund the difference within 30 days after reissuance of the Local
Membership. If the Membership Fee then required for a National Membership exceeds the
Membership Fee previously paid by the Member for the Local Membership, then the Member shall pay
the difference upon converting to National Membership.

L E G A L S E P A R A T I O N O R D I V O R C E

In the event a Member is legally separated or divorced from his or her spouse, title to the membership,
including all rights and benefits to the holder thereof, shall remain in the Member's name. In the event
a final, non-appealable order of a court having jurisdiction awards the membership to the Member's
spouse, the Member shall become a Resigning Member and the Club will seek to reissue the
membership on the same basis as any other resigned membership. Upon reissuance of the
membership, the spouse shall be entitled to the refund of the Membership Fee unless a court order
directs otherwise. A Member shall be required to give written notice to the Club of a divorce or legal
separation and shall remain responsible for the payment of all dues, fees and charges associated with
the membership. In the case of legal separation, the Member may in his or her discretion restrict use of
the Club Facilities by family members designated by the Member.

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