Page 10 - Odessa Country Club By-Laws Book

entitled to full credit for the stock certificate held by the disabled member;
conditioned that acceptable title to the stock certificate is acquired from the
disabled member. This transfer shall be effected without an additional fee.
(f) In the event of the death of a Stockholding Personal Member, the deceased
member's widow, child, or grandchild shall have the right to make application
to become a member. After approval of membership by the Membership
Committee and the Board of Directors, the applicant shall be entitled to full
credit for the stock certificate held by the deceased person, conditioned
acceptable title to the stock certificate is acquired from the estate of the
deceased. In such event, no transfer fee shall be payable. Should the
person accepting the membership be a widow her dues will be reduced as
long as she remains unmarried.

(g) Each member shall pay all taxes due the state and/or federal government
on memberships, dues and transfer fees.

(h) The Club shall have a prior lien upon the stock certificate, all deposits and
all rights of each member of every class in the Club for any indebtedness
due the Club by such member.

(k) Non-resident Members, by moving their principal residence (home resided in
the majority of the year) to within a radius of one hundred (100) miles of
Odessa, Texas, shall automatically become Stockholding Personal Members
without the necessity of approval of their membership by the Membership
Committee and the Board of Directors, unless some other action is taken by
the Board of Directors as provided for in Article 4, Section 2(l) of these
By-Laws. However, any differential in the Stockholding Personal and
Non-resident Membership fees shall first be paid before the member may
become a Stockholding Personal Member, or such membership shall
automatically terminate. Having moved the principal residence within a one
hundred (100) mile radius of Odessa, Texas, the member shall immediately
and automatically lose the classification as a Non-resident Member.

(l) Should a Stockholding Personal Member in good standing for a minimum of
five (5) consecutive years move his residence outside a radius of one
hundred (100) miles of Odessa, Texas, and then desire to be transferred to a
Non-Resident Member, this change in classification shall be made without
payment of an additional fee, subject to approval by the Board of Directors.
Additionally, this Non-resident Member shall be entitled to reduced dues,
shall retain stock and voting rights, but shall not be eligible to serve on the
Board of Directors or any of its committees.

(m) In the case of a Stockholding Company Membership, the company may
change representatives by making an application to the Board of Directors
and by paying a transfer fee. Upon approval by the Board of Directors, the
new representative and his family shall be entitled to full privileges in using
the facilities of the Club.
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