RULES REGARDING SALE OF DOCKS
1. A Resident, Associate, Non-resident and Life member or ex-member may sell his slip only to a member in good standing of DCYC. The sale of any slip from one member to another must be accomplished through the Harbormaster and Treasurer. Any outstanding Club debts of the selling member must be paid in full before the slip may be sold. If the selling member cannot pay his outstanding debt, the Treasurer shall deduct from the slip purchase funds an amount to satisfy the outstanding debt prior to funding the balance to the selling member and transferring title to the slip to the purchasing member. Transfer of title to any slip in any other manner is void.
2. When a member who owns a slip resigns or is terminated from the Club, he shall make every effort to sell the slip as soon as possible and shall notify the Club Treasurer and Harbormaster of the asking price established by the owner for the slip within seven (7) days from the date of resignation or termination. The former member/owner of a slip shall give the Harbormaster the authority to sell the slip at that asking price. The funds will be held in escrow by the club when the slip is sold, until the Treasurer audits the former member account and verifies that all outstanding debts are satisfied. Any outstanding debt will be collected out of the escrow fund. Until the slip is sold, the following conditions exist:
a. If the slip is occupied by the owner's boat or by a boat owned by another Club member with owner's approval, the owner is obligated to continue paying a monthly fee equal to the monthly dues and capital improvements charges corresponding to the owner's previous status of membership and the dock maintenance charge.
b. If the slip is unoccupied by the owner or his designate, the club has full control of and rights to the use of the slip free of charge. The Club shall also be able to charge rent to any other member temporarily using the slip, pending the sale by the owner.
c. If the slip has not sold within ninety days after the owner resigns or is terminated from the Club, the Board may, at its sole option, purchase the slip at a reasonable price set by the Board. The owner must sell the slip to the Club at the price set by the Board within seven (7) days after receipt of written notice from the Board of the purchase by the Club. A guideline for a reasonable price is 75% of the current market value, but the price will be set at the sole discretion of the Board of Governors. DCYC will continue to assess the dock maintenance charge until the slip is sold, or until 90 days pass from the date of resignation or termination, whichever comes first.