Full Members
Full Members are fully empowered members within the Community. They enjoy the following rights and responsibilities:
Full Membership ends when any of the following occur:
It is intended that departing Members be able to exit gracefully, in good financial condition. Therefore, when a Member departs, the Community is obligated to buy out any Startup Equity that the Member may have contributed at its current Fair Market Value. Also, any internal agreements that the Community made with Members regarding Buyout values of any Improvement that the member personally financed on the land should be settled upon the Member's departure. (Note that homes built via workshops would not generally be subject to such agreements).
At the Community’s sole discretion, this buyout may be amortized over any reasonable period of time… the intent is that buyouts be accomplished sooner than later (for the comfort of the departing member) while honoring any restrictions on the Community’s current ability to pay the buyout.
See also: Active vs Inactive Membership
- The right to fully participate in the Community Governance Process,
- The right to sign other prospective members' Membership Petitions,
- The right to build homes for themselves upon the land in accordance with Community agreements and guidelines & any applicable local laws
- They fully participate in the Community's Monthly Profit / Expense splits.
- They may buy in to the Community's start-up equity plan (if any is currently available), in accordance with any applicable Community agreements.
Full Membership ends when any of the following occur:
- The Full Member resigns (in writing, signed)
- The Full Member falls more than 6 months behind on their financial obligations to the Community
- At least 3/4 of the existing Active, Full Membership signs an "Aggrieved Cause" Petition against the Full Member (in practice, this should be extremely rare).
It is intended that departing Members be able to exit gracefully, in good financial condition. Therefore, when a Member departs, the Community is obligated to buy out any Startup Equity that the Member may have contributed at its current Fair Market Value. Also, any internal agreements that the Community made with Members regarding Buyout values of any Improvement that the member personally financed on the land should be settled upon the Member's departure. (Note that homes built via workshops would not generally be subject to such agreements).
At the Community’s sole discretion, this buyout may be amortized over any reasonable period of time… the intent is that buyouts be accomplished sooner than later (for the comfort of the departing member) while honoring any restrictions on the Community’s current ability to pay the buyout.
See also: Active vs Inactive Membership
