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B Y L A W S
ARTICLE III - MEMBERSHIP ARTICLE III - MEMBERSHIP 3.01. Membership. Every person or entity who is a record owner of a fee interest in any Unit which is subject by the Declaration to assessment by the Association shall be a Member. Any person or entity having any such interest merely as security for the performance of an obligation shall not be a Member. Membership in the Association and the right to vote shall be appurtenant to, and may not be separated from, the fee ownership of any Unit which is subject to assessment by the Association. Ownership of such Unit shall be the sole qualification for membership in the Association. 3.02. Transfer. The membership held by any Owner of a Unit shall not be transferred, pledged or alienated in any way except upon the sale of such Unit and then only to the purchaser of the Unit. Any attempt to make a prohibited transfer will be void and will not be reflected upon the books or records of the Association. In the event any Owner shall fail or refuse to transfer the membership registered in his name to the purchaser of his Unit, the Association shall have the right to record the transfer upon the books and records of the Association. 3.03. Assessments. (a) Payment of Assessments. The rights of membership in the Association are subject to the payment of Assessments levied by the Association. In accordance with the Declaration. Assessments shall be a charge on the real property and shall be a continuing lien upon the Unit against which each such Assessment is made, as provided in Article VI of the Declaration, and shall also be the personal obligation of the person or entity who was the Owner of such Unit at the time when the Assessment fell due. (b) Uniform Rate. Unless otherwise provided in a Supplementary Declaration as to the Units within the Annexed Property covered by the Supplementary Declaration, all Regular and-Capital Improvement Assessments shall be fixed at a uniform rate for all Units. 3.04. Suspension of Membership. Subject to the provisions of Section 3.05(c), the voting rights and/or use or enjoyment of recreational or social facilities within the Common Area of any Project or any Association Property of any Member, his Family and his guests may be suspended by action of the Board for any period during which any Assessment against his Unit remains unpaid and delinquent, but upon payment of such Assessments his rights and privileges shall be automatically restored. 3.05. Association Rules; Enforcement. The following provisions shall govern the promulgation of the Association Rules which may include the establishment of a system of fines and penalties: (a) The members of the Board shall propose such rules and regulations as are consistent with and in furtherance of existing law, the Declaration, the Articles and these Bylaws. Upon the vote or written assent of a majority of the voting power of the members of the Board, such rules and regulations shall take effect as the Association Rules. (b) Upon the vote or written assent of a majority of the members of the Board, the Board, in its discretion, shall have the power to adopt a list of specific fines and penalties, including without limitation, suspension (for a period not to exceed thirty days) of the use or enjoyment rights to recreational or social facilities within the Common Area of any Project or any Association Property, for the violation by any Member of the provisions of the Declaration, the Articles, these Bylaws and the Association Rules. Such fines and penalties shall not be deemed to be an exclusive remedy and the Board shall have any other remedies provided for by applicable law, the Declaration, the Articles, these Bylaws or the Association Rules. (c) Any Association Rules promulgated pursuant to this Section shall provide that no fine or penalty shall be levied without the following procedural safeguards: (i) A written statement of the alleged violations shall be provided to any Member against whom such charges are made and such written statement shall provide a date on which the charges shall be heard; (ii) No proceedings under this Section shall be brought against any Member unless such Member has received a written statement of charges at least thirty days prior to that hearing; (iii) No proceeding shall be brought against any Member more than sixty days after such Member is provided a written statement of charges; (iv) The Board shall appoint a panel of three (3) capable persons (one of whom shall be designated a chairman) who may or may not be Members and who shall hear the charges and evaluate the evidence of the alleged violation; (v) At the hearing the Member charged shall have the right to present oral and written evidence and to confront and cross-examine adverse witnesses; (vi) The panel shall deliver to the Member charged within seven days after the hearing a written decision which specifies the fines or penalties levied, if any, and the reasons therefore; and (vii) A monetary penalty imposed by the Association as a disciplinary measure for failure of a Member to comply with the Bylaws, the Declaration or the Association Rules or as a means of reimbursing the Association for costs incurred by the Association in the repair of damage to Common Area or Association Property for which the Member was allegedly responsible or in bringing the Member and his Unit into compliance with the Bylaws, the Declaration and the Association Rules shall not be an Assessment which may become a lien against the Member's Unit enforceable by a sale of the Unit in accordance with St. Vincent & The Grenadines Civil Codes, however, the provisions of this subsection (vii) shall not apply to charges imposed against a Member consisting of reasonable late penalties for delinquent Assessments and/or charges to reimburse the Association for the loss of interest or for costs reasonably incurred (including attorneys' fees) in its efforts to collect delinquent Assessments. (d) In the event that a Member shall correct an alleged violation prior to
the hearing date, the Board shall discontinue the proceedings. ARTICLE IV - VOTING RIGHTS 4.01. Classes. The Association shall have two classes of voting membership as follows: (a) Class A. Class A Members shall be all those Owners entitled to membership, with the exception of the Declarant. Class A Members shall be entitled to one vote for each Unit in which they hold the interest required for membership. When more than one person holds such interest in any Unit, all such persons shall be Members and the vote for such Unit shall be exercised as they determine among themselves, but in no event shall more than one vote be cast with respect to any such Unit. Any votes cast with regard to any such Unit in violation of this provision shall be null and void. (b) Class B. Cruise Ship Condos LLC, a Limited Liability Company in which it holds the interest required for membership; provided that the Class B membership shall forever cease and become converted to Class A membership on the happening of any of the following events, whichever occurs earliest: (i) Six months after sixty percent (60%) of the Units in the Property have been conveyed to Owners (other than Declarant) (ii) On the discontinuance of business by Cruise Ship Condos LLC for any reason . 4.02. Restrictions on Voting Rights. The voting rights of both classes of membership shall be subject to the restrictions and limitations provided in the Declaration, the Articles and these Bylaws.
5.01. Common Area and Association Property. Each Member shall be entitled to the use and enjoyment of their condominium style dwelling unit (cabin, stateroom, suite, apartment, storage unit; Common Area; and any Association Property as provided in the Article of the Declaration entitled "Common Area and Association Property Rights and Limitations." 5.02. Delegation of Right of Use. Any Member may delegate his right of
use and enjoyment to any of the Common Area and any Association Property to the
members of his Family, his tenants and contract purchasers who reside in his
Unit. Such Member shall notify the Secretary in writing of the name of any such
person or persons and of the relationship of the Member to such person or
persons. The rights and privileges of such persons are subject to suspension
under Section 3.04 to the same extent as those of the Member. |