Voting Rights and Member of the Association. Each Owner is automatically a member of the Association. Only Owners are members. When a person acquires an Interval, that person (the “New Owner”) becomes the Owner and an Association member. At the same time, the person from whom the New Owner acquired his/her Interval ceases to be the Owner of that Interval and an Association member.
Appears in 3 contracts
Samples: Owners Agreement, Owners Agreement, Inaski Shores Owners Agreement
Voting Rights and Member of the Association. Each Owner is automatically a member of the Association. Only Owners are members. When a person acquires an Interval, that person (the “New Owner”) becomes the Owner and an a Association member. At the same time, the person from whom the New Owner acquired his/her Interval ceases to be the Owner of that Interval and an a Association member.
Appears in 1 contract
Samples: Inaski Shores Owners Agreement
Voting Rights and Member of the Association. Each Owner is automatically a member of the Association. Only Owners are members. When a person acquires an Interval, that person (the “New Owner”) becomes the Owner and an Association member. At the same time, the person from whom the New Owner acquired his/her Interval ceases to be the Owner of that Interval and an Association member.. 3.02
Appears in 1 contract
Samples: Owners Agreement
