The Association shall have two (2) types of regular voting memberships:
Class “A” – Class “A” Members are those Property Owners (including Declarant) of Dwelling Lots, Dwelling Units and Boating Units.
Dwelling Lot – A Class “A” Member shall be entitled to one (1) vote for each Dwelling Lot. As long as property qualifies as a Dwelling Lot because improvements have not been constructed thereon, the owner thereof shall have only one (1) vote.
Dwelling Unit – Once improvements are constructed and it loses its character as a Dwelling Lot and becomes a Dwelling Unit, the owner shall have two (2) votes for the ownership of such property.
Boat Slip – Each Class A Member shall have one-half (1/2) vote for each Boating Unit he owns.
Consolidated Lot – In those instances where one (1) or more Dwelling Lots have been consolidated with a contiguous Dwelling Unit, the voting rights of the consolidated Dwelling Lot shall be reduced to one-half (1/2) vote.
Class “B” – The South Carolina Yacht Club shall be entitled to eighty-three (83) votes.
The voting rights of any Member who is more than ninety (90) days delinquent in the payment of certain assessments, charges and fees due to the Association shall be suspended until payment thereof in full.
Voting is by ballot or proxy at the annual owners’ meeting, special meeting or by a mailed referendum.