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The First Amended Bylaws specify the voting rights of
each class of membership as follows:
Voting. Class A Members shall each have two
(2) votes, Class B Members shall each have one
(1) vote, and Class C Members shall each have one
(1) vote, respectively, on any and all matters to
be voted on by the Members. Moreover, no class
voting shall take place or is permitted on any
matter. However, notwithstanding the foregoing
statement that each Class C Member shall have one
(1) vote on any and all matters to be voted on,
prior to the date that Members other than Class C
Members collectively possess, in the aggregate,
more than sixty-six (66) votes, Class C Members
shall each have twenty-two (22) votes on any and
all matters to be voted on by the Members.
The First Amended Bylaws prohibit members of the club
from renting the use of a villa. The First Amended Bylaws
provide as follows:
No Rental Rights. Any Member may permit
a guest, friend, client, or business associate
(collectively referred to herein as the "Guests"
or, if only one, the "Guest") to use a Unit
which such Member has rightfully and properly
reserved or is otherwise entitled to use;
provided, however, that no Member can rent or
otherwise receive any consideration from the
Guest for such permitted use. It is the intent
of the corporation to provide the use of the Club
Facilities and, more specifically, the Units only
to Members and any other persons to whom such
Members desire to gratuitously grant rights of
use.
Shortly before completion of the construction phase
of the project, Mr. Dixon and petitioner began marketing
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