GENERAL

1.         GENERAL

a. Name:

The name of the club shall be known as “Long Thanh Golf Club and Residential Estate” (“The Club”). The registered address of the Club is:

National Highway 51, Tan Mai II Hamlet, Phuoc Tan Village, Bien hoa city, Dong Nai Province, Vietnam

Tel: (84.613) 512512

Fax: (84.613) 512513

b. Purpose:

The Club is formed to provide first class golfing and residential facilities in a safe and healthy environment

c. Owner:

The Club is owned by: Long Thanh Golf Investment and Trading Joint Stock Company. The proprietor has appointed managers to deal with all matters related to club activities.

The expression “ the Management” shall include such persons or entities as many as needed, and they shall be appointed by the proprietor as the management of the Club.

2.         MEMBERSHIP

1.           Membership of the Club is a privilege and is by invitation.

2.           Members are those individuals over the age of 18 years; or corporate bodies that have been invited, and have applied for membership to the Club, and have completed all the applicable criteria as prescribed by these by-Laws to become members. Members shall abide by these by-Laws and any applicable rules that the Club shall implement.

3.           The membership of the Club shall, for the time being, consist of the following:

a. Individual members.

b. Corporate members.

4.           The Club shall have the right to introduce additional classes of membership from time to time, and shall determine the maximum number of members of each class, the terms and conditions applicable to, and the privileges attached to any existing or additional classes of membership.

5.           Procedure for application for membership:

i.             A duly completed membership form with the necessary attachments shall be submitted to the membership office.

ii.            Full payment of the joining fee or in the case of application by installment, initial payment of the joining fee should be completed.

iii.          All applications are subject to the approval of the Board of Directors of the Club. Upon acceptance the member will be notified in writing and the annual dues shall be payable immediately. All members will be given two (2) copies of the membership agreement. Unsuccessful applicants will be notified in writing and will receive their refunds by cash or bank transfer.

3.         INSTALMENT

All members who have submitted applications under the installment plan must make payments for the remaining balance of the joining fee in accordance with the installment plan. Failure to do so shall result in members being deemed to have withdrawn their application for membership and any money having been paid may not be refunded.

4.         MEMBERSHIP CERTIFICATE

All members will be given two (2) copies of the membership agreement upon approval of their membership and the membership certificate and Membership card upon full payment of the joining fee.

5.         MEMBERSHIP’S PRIORITY

The immediate members of the family of a member who shall consist of such member’s legitimate spouse as well as two unmarried children below 18 years of age are entitled to use all the Club facilities subject to such limitation, rules and regulations that the Club may prescribe from time to time.

6.         MEMBERSHIP TRANSFER

All classes of membership may, subject to the payment of the transfer fee, which the Club will prescribe from time to time, be transferred. The transferor must return the membership certificate to the Club, and approval of the proposed transferee by the Club is required.

7.         RIGHTS OF MEMBERS

The proprietor will provide the members with the Club's premises. Any individual member or approved individual shall be entitled to the full use of the facilities of the Club in accordance with these by-laws and other applicable rules as the Club may implement.

The membership of any member does not confer such member any ownership, interest, right, benefit or title to, or in any of the property or assets of the Club.

8.         ANNUAL DUES

The Club will fix and review from time to time, the amount of annual dues of the Club to be levied upon the members for the general maintenance and upkeep of the Club.

Members have 30 days from the date of the statement of account to pay the annual dues. Any member who fails to pay their annual dues within 30 days from the day of the statement of account may be suspended from using the golf course and the Club may impose a late charge at such a rate as it may prescribe.

 

9.         CONDUCT AND DUTIES OF A MEMBER

1.       Any misconduct or misbehavior of a member or persistent breach of the etiquette of golf by a member shall be deemed to be a serious breach of the rules of the Club and must be addressed to the Board of Directors of the Club.

2.       A member shall behave in a considerate manner towards other members and the staff of the Club.

3.       A member shall exercise restraint in the use of bad language.

4.       A member shall not throw litter on any of the Club's premises.

10.      GUESTS

Members may introduce three guests into the Club's premises at any one time, in accordance with these by-Laws or any other applicable rules. A member introducing any guest to the Club shall be fully responsible for all acts, doings, costs, expenses and liabilities incurred by such members' guests.

11.      MISCELLANEOUS

Liabilities of the proprietor and manager:

1.       All members and their guests and all other persons who enter the Club’s premises, use the Club at their own risk.

2.       Each member shall indemnify the proprietor in full against all claims, losses, damages, costs and expenses, which the proprietor may suffer, or incur as a result of a breach by any member in connection with any of the By-Laws, or any applicable rules and regulations or the use in any manner of the Club and each member shall forthwith, on demand pay in full to the proprietor such claims, losses, damages, costs and expenses.

3.       The proprietor shall be solely responsible for any provision of finance to the Club and for ensuring that at all times the Club complies with all statutes, rules, regulations and governmental and regulatory requirements applicable to the operation and business of the Club.

12.      MANAGER

The manager shall be independently responsible for enforcing the rules as contained in these By-Laws

13.      ALTERNATION OF BY - LAWS

Alternation of by-Laws and the attached applicable rules and regulations. These by-Laws may be amended from time to time by the proprietor upon notice to be given to members.

14.      CLUB'S DISCRETION ON GRANTING EXCEPTIONS

The Club reserves all rights to, in its sole and absolute discretion, to waive compliances or grant exceptions to any of these By-Laws.

Any act or matter to be done, performed, or attended to by the manager under these By-Laws may be done, performed or attended to by the Club in its sole and absolute discretion.

Any matter relating to these By-Laws and application of them shall be determined by the Club, whose decision on any point or matter shall be final and conclusive and binding on all members and other parties concerned.

15.      GOVERNING LAW

These By-Laws are governed and shall be concluded in accordance with the laws of Viet Nam.

16.      EFFECTIVE DATE

These By-Laws shall take effect as of May 1st, 2004.