North Channel Yacht Club Membership Roster 2025

shall be by the official ballot method as provided in ArƟcle VII, SecƟon 6 of these By-Laws, and must be approved by two-thirds of the members voƟng in order to be adopted. Upon such vote, the proposed amendment shall become a part of the By-Laws. ARTICLE XII. SALE OF CLUB ASSETS Assets such as furniture, plants and equipment owned by the Club, which have prudently been determined to be no longer used and useful, may be sold or otherwise disposed of with the approval of the Commodore provided that its market value is less than $200.00. The approval of the Board of Directors is required for any asset sales greater than $200.00 of market value but equal to or less than $5,000.00. All sales and disposals in excess of $5,000.00, except significant real estate sales, shall be approved by a vote of the membership at a General Membership MeeƟng. Significant real estate sales shall be approved by the official ballot method as provided in ArƟcle VII, SecƟons 6 & 10 of these By-Laws and must be approved by two-thirds of the members voƟng. Significant real estate sales are defined as a sale of real property assets that make up 20% or more of the Club’s total booked assets. The Treasurer will be responsible for determining the appropriate market value or booked asset value for applicaƟon of the required approval level.

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