Section I. Dues – Annual dues are currently $50.00 per lot per year for each lot owned by the membership of the corporation. Changes to the annual dues will be in accordance with Section G of the Northampton Heights-Dividing Line Covenants and Restrictions. A late fee of 20% of the unpaid dues will be assessed to cover administrative costs.
Section II. Effect of Non-Payment – All past due balances are subject to be taken Small Claims Court. This action shall be taken by the Board of Directors when deemed necessary.
Section III. Fiscal Year – The fiscal year of the corporation shall be deemed January 1 to December 31.
Section IV. Audit – The Treasurer shall provide to the Board a financial report to be audited by three unrelated members appointed by the Board prior to the presentation at the annual meeting.