Flying 20 Club, Inc.

By-Laws

1. Dues and Assessments:  Monthly dues, assessments and flying charges shall be due and payable when billed.  Any member who is in arrears by more than sixty days shall have his/her flying privileges suspended until such amount is current.  In the event of special circumstances the member may request, the membership or the Executive Board provide temporary re-instatement for good cause assuming that a payment plan is presented to the body and accepted by the body.  The Treasurer shall provide notice of delinquencies in aggregate on the monthly financial statement.  Member payments are applied to oldest account balance first.
   
   1a: (unofficial wording, decision made on October 28, 2006).  Any member who is in arrears by more than ninety days shall be placed on inactive status, which is essentially the same as having resigned.  To be reinstated the member must pay his debt to the club in full, and re-join as per paragraph 3, below.
2. Resignation:  Any member resigning from the Club should submit a written notice of his/her intentions to one of the following officers: President, Secretary or Treasurer.
3. Re-joining:  Any ex-member in good standing, who resigned within the previous twelve months, may apply for reinstatement in the club.  Upon acceptance, he will pay a rejoining fee equivalent to three-months dues, as based on the then current rates contained in the "General Information Sheet".
4. Dissolution:  It is required that if two-thirds of the membership desire to dissolve the Club, the Executive Board shall liquidate the assets as follows:
   1. Equity:  Assuming the club has equity after paying loans and the cost of sale on aircraft and any other assets, the remaining funds (hereinafter equity) shall be distributed based upon the following formulation.  The equity will be divided based upon the length of membership in the club to a maximum per member of sixty (60) months.  For example: assume the club has forty-eight (48) members of which forty (40) are members who have been in the club sixty (60) or more months and eight (8) member who have been member for six (6) months each.  The total number of club months is calculated to be 2448 months; therefore forty (40) members would be entitled to a share equal to 60/2448 or 2.451% interest and eight (8) members would be entitles to a share equal to 6/2448 0.2451% interest.
   2. Deficit: Assuming the club has a deficit after liquidation of the assets due to loans, liens or bills to be paid, each member shall be responsible for an amount which would be calculated based upon months in the club as in By-Laws paragraph 4 sub-paragraph a above.
5. Maintenance:  All maintenance of the Club airplanes shall be under the supervision and direction of an FAA licensed mechanic.
6. Determining Monthly Dues:  The Treasurer shall maintain records to determine the fixed and variable costs of the aircraft and report these costs to the Executive Board, which will set monthly dues and hourly rates based on these costs.  Thirty (30) days notice will be provided in the Club minutes prior to a rate change.
7. Membership:  The maximum number of members is set by a majority vote of the Executive Board.  The current size of the Club is set at sixty (60).
8. Pilot in Command privileges for member in good standing:  Only a Club member who meets the FAA and Club requirements or Club member while under instruction by an FAA certified flight instructor may act as Pilot in Command of a Club owned airplane.
9. 1. For new members only: New member are required to conduct their first flight in a club airplane with a Club approved CFI.  Upon successful completion of the flight, the instructor shall write in their logbook endorsing the success demonstration of the pilot’s ability to exercise the privileges of pilot-in-command of the club airplane.
   2. Exceptions to this rule:  For the purpose of Club business (maintenance, ferry flights, sales demos, etc.) deviations from this rule may be authorized by the Executive Board.
10. Removal of member:  Violation of Club rules can subject a member to removal from the Club at the discretion of the Executive Board and the approval of no less than two-thirds of the members at a regular meeting.
11. Removal of Officers and Executive Board Members:  An Officer or Executive Board member may be removed from office by a vote of not less than two-thirds of the remaining members of the Executive Board or two-thirds of the membership.