Policy for
Reinstating Members to Shareholder Status

1. A Member who has resigned, or downgraded to Social, Limited Social or Corporate status, is considered to have terminated Shareholder membership and must tender his/her stock for resale in accordance with Article VII, Section 3 of the by-laws.

2. Ownership of stock for individuals listed in #1 above continues until re-sold in accordance with Article VII, Section 3 of the by-laws.

3. A member who has resigned may apply to be reinstated to Shareholder status within 4 years of such termination (see #1 above) with the following stipulations:
12345678910 a:-A share of stock must be repurchased for the same amount received at the time of resignation, if it was resold.
12345678910 b:-Paying a percentage of the initiation fee in effect at the time of reinstatement according to the following schedule:
12345678910123456789101st year after resignation--20%
12345678910123456789102nd year after resignation-40%
12345678910123456789103rd year after resignation-60%
12345678910123456789104th year after resignation-80%
12345678910c. Paying the current year's dues as outlined in the Members Handbook prorated schedule for members returning from leave of absence.
12345678910d. After the fourth year, a reinstated member will be responsible for payment of all fees and dues as if he/she were a new member.

4. A member who has downgraded from Shareholder to Social, Limited Social or Corporate status may apply to be reinstated to Shareholder status within 4 years of such termination(see #1 above) with the following stipulations:
12345678910a. A share of stock must be repurchased for the same amount received at the time of resignation, if it was resold.
12345678910b. No initiation fee.
12345678910c. Paying the current year's dues as outlined in the Members Handbook prorated schedule for members returning from Leave of Absence.
12345678910d. After the fourth year, a reinstated member will be responsible for all fees and dues as if he/she were a new member.

5. The board of directors shall have the discretion and flexibility to deal with any individual member's request for reinstatement based on the merits of the case.

Adopted by the Board of Directors
Sussex Pines Country Club, Inc.
March 14, 2007

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