Accounts

1. The Club office is authorized to receive cash and/or checks of members on local banks only in payment of Club accounts, to be duly acknowledged by the standard Club Official receipts.  
   

2. Members are not permitted to cash checks.  
   

3. The Comptroller shall bill all members monthly. As soon as possible after the end of every month, a statement showing the amount of the bill of a member for said month will be prepared and sent to him.  If the bill of any member remains unpaid by the end of the month following that in which the bill was incurred, the Comptroller shall notify him that if his bill is not paid in full by the end of the succeeding month his name will be posted as delinquent the following day at the Clubhouse Bulletin Board and a monthly penalty charge of 5 % shall be assessed on the unpaid balance.  While posted, a member, his spouse, dependents and guests cannot avail of the facilities and services of the Club.  
   

4. Members on the delinquent list for more than 60 days shall be reported to the Board and their shares or the shares of the juridical entities they represent shall therefore be ordered sold by the Board at auction to satisfy the claims of the Club.  A member may pay his overdue account at any time before the auction.