BYLAWS OF LYNCO CLUB, INCORPORATED

January 2009

ARTICLE I

MEMBERSHIP

SECTION 1:

ELIGIBILITY FOR MEMBERSHIP

A Member is a person who has been accepted as such by the Board of Directors and who is current with respect to payment of all dues and assessments. An applicant for Membership will not be accepted unless he or she is a natural person who is:

1.      The owner of a Lot in Lynwood Lakes Estates subdivision; or,

2.      The owner of a Lot which has lake privileges under a contract between Lynwood Lakes Company and such person or his predecessor in title made by Lynwood Lakes Company prior to January 1, 1962.; or,

3.      The surviving spouse, heir or devisee of a deceased Member domiciled in the home of the deceased Member on a Lot having Membership rights, provided that so long as said spouse, heir or devisee continues to reside in said home and pay annual dues, he or she shall not be required to pay an initiation fee; or,

4.      A minister or pastor who actually resides in a parsonage or residence owned by an established church and located in Lynwood Lakes Estates subdivision on a Lot eligible for Lynco Membership, whether the church is incorporated or an association. But no officer, director, stockholder, trustee, or other person associated or connected with said church shall be entitled to Membership by virtue of such Lot, parsonage or residence; or,

      5.   The owner of a Lot which contains a completed residence, and which is situated on the following streets:

Lynwood Drive (from Liberty Road to dead end)

Charolais Drive (from Lynwood Drive to dead end)

Shiland Drive (from Charolias Drive to dead end)

Van Noppen (from Shiland Drive to Mossyrock Road)

Melissa Lane (from VanNoppen to dead end)

Yet to be named (to it’s dead end) located off Ventura Drive between Williams Dairy Road and Ledford Road

(“dead end” for “yet to be named street” refers to as shown in Guilford County Planning Department records as of October 2006;

(“dead end” for all others streets listed refers to the streets as they existed in October 21, 1994);

    or an eligible tenant as defined in Section 8 of this Article.

SECTION 2:

All members shall agree to abide by the rules, regulations and restrictions imposed from time to time by the Board of Directors or as set forth in the deed restrictions. Any Member charged with conduct unbecoming a Member, and against whom such charges are sustained after a due and proper hearing by the Board of Directors, may be reprimanded or suspended or expelled from membership. A two- thirds (2/3) majority vote of the Board of Directors shall be necessary to sustain the charges. The type of punishment must then be separately voted by a two-thirds (2/3) majority vote of the Board.

SECTION 3:

Membership shall not be transferable and the corporation shall not refund any initiation fees, dues or other moneys paid by any member who withdraws from membership either on account of the non-payment of dues or by reason of the land which made him eligible for membership.

SECTION 4:

In the event any person has ceased to be a member of the club for any reason, he shall not be reinstated but may, by meeting the eligibility requirements of a new member, apply for a new membership in the club as set forth in Article IX, Section 4, hereof.

SECTION 5:

All members of the immediate family residing in the home of a member shall be entitled to full privileges of membership.

SECTION 6:

The Lands referred to in Section 1 of Article I, shall not include any lands purchased or contracts made by Lynwood Lakes Company after January 1, 1962.

SECTION 7:

If title to an eligible lot is held by two or more persons, any one of them may apply for membership. Except as provided in Section 5 above, membership privileges shall not apply to more than one person with respect to any one lot and no person may claim additional membership privileges by virtue of owning more than one lot.

SECTION 8:

An eligible tenant, as provided below, shall be eligible to apply for Membership: A tenant who actually resides in a home on an eligible Lot is eligible for Membership if either:

(A)   The owner of the Lot is a paid Member in good standing and continues that paid Membership from year to year during the tenancy and the owner relinquishes in writing his right to use during the tenancy; or,

(B)   The tenant pays the initiation fee and the Membership fee and continues that paid Membership from year to year.

In all cases, the tenant's Membership shall be deemed resigned immediately upon ceasing to occupy a house on the eligible Lot. In such a case and where (A) applies, use will revert back to the Lot owner.

ARTICLE II

MEETINGS OF MEMBERSHIP

SECTION 1:

The members of this corporation shall meet once each calendar year and the annual meeting of the membership shall be at such place and upon such day and hour set by the President of the corporation and shall be during the month of October of each calendar year. Special meetings may be called by the President or by a notice signed by one-third of the members of the Board of Directors or by a notice signed by 25% of the entire membership of the corporation.

SECTION 2:

Notice of either regular or special meetings of the membership of the corporation shall be duly given to the membership, sent by mail at least fifteen days prior to such meeting or by publication of a notice in some newspaper of general circulation in Guilford County, North Carolina, not less than five or more than ten days prior to the holding of the meeting. All notices as herein provided shall show the date, time, place and purpose of such membership meeting.

SECTION 3:

The directors shall be elected for one year and such election shall take place at the annual meeting of the membership. If any director of the corporation shall resign or cease to be a member of the corporation for any reason, the Board of Directors shall declare her/his place on the board vacant and shall elect a replacement.

ARTICLE III

BOARD OF DIRECTORS

SECTION 1:

The affairs of the corporation shall be managed by the Board of Directors to consist of thirteen members, twelve of which shall be elected as herein provided and the thirteenth shall be the immediate past President. They shall hold office for one year or until their successors are elected and qualified.

SECTION 2:

The members of the Board of Directors shall have the power to elect or appoint all necessary officers, agents and contractors, to fix compensation, to prescribe duties and to dismiss any appointive officer or agent and generally to control and manage the affairs of the corporation.

SECTION 3:

Any director shall have the right to appoint his or her spouse or another Board Member as proxy to vote for him or her at any meeting of the Board of Directors.

ARTICLE IV

OFFICERS

The directors shall, at the annual meeting of the Board, elect from the membership of the Board a President, one or more Vice Presidents, a Secretary and a Treasurer. The Board shall also designate such committees as may be deemed necessary by the Board and shall designate committees as follows:

Legal

Finance

Lake Care

Piers & Walls

Lake Safety

Membership

Grounds

Work Party

Social

The President of the Corporation shall appoint the membership of each committee. Any person may hold more than one office and may serve on more than one committee.

ARTICLE V

DUTIES OF OFFICERS AND DIRECTORS

SECTION 1 - PRESIDENT:

The President shall preside at all meetings of the Board of Directors and of the membership of the corporation and shall see that all orders and resolutions of the Board of Directors and of the membership are carried out. The President shall execute all conveyances, contracts and agreements authorized by the Board of Directors; shall appoint all the members of all committees; shall sign all certificates of membership and generally guide all of the officers of the corporation in the performance of their respective duties.

SECTION 2 - VICE-PRESIDENT: The Vice-president shall perform the duties of the President in his absence, or at his/her direction, or at the direction of the Board of Directors.

SECTION 3 - SECRETARY: The Secretary shall be the ex-officio Secretary of the Board of Directors and of the corporation. He/she shall keep a record of all proceedings in a book to be kept for that purpose. He/she shall be the custodian of the common seal and shall keep all non-financial books, papers and records of the corporation.

SECTION 4 - TREASURER:

The Treasurer shall collect, receive and hold the moneys of the corporation, endorse and collect all checks and negotiable instruments, make authorized disbursements and keep all financial books, papers and records of the corporation including a full and accurate account of the receipts and disbursements of the corporation shall render a full account at the annual meeting of the membership and to the Board of Directors at such time and place as the President may require. The Treasurer may be bonded with a good and sufficient bond for the faithful performance of these duties, at a sum set by resolution of the Board of Directors, and the premium shall be paid by the corporation.

SECTION 5 - DIRECTORS:

The Directors may, in the absence of or in the incapacity of any officer, delegate his/her duties and powers to any other officer or to a Director.

SECTION 6 - FISCAL YEAR:

The fiscal year of the corporation shall be the calendar year. The books and records of the corporation shall be audited by the Finance Committee and submitted to the annual meeting of the membership in October of each year.

ARTICLE VI

QUORUM

So long as the membership of this corporation does not exceed 50, 20% of the membership shall constitute a quorum. When the membership of this corporation exceeds 50, but less than 100, the quorum shall be 20% of the first 50 members, plus 5% of all members in excess of 50. When the membership of the corporation exceeds 100, 20 members shall constitute a quorum.

ARTICLE VII

The Board of Directors shall promulgate regulations relative to the use of any lakes, streams, ponds or other recreational facilities or common areas belonging to the corporation and a copy of such regulations shall be furnished to each member of the corporation. The Board of Directors may suspend or revoke the membership of any person who fails to abide by such rules.

ARTICLE VIII

The Board of Directors of the corporation shall select and designate one or more depositories for the funds of the corporation and such funds shall be drawn upon, checks signed by such person or persons, that may be authorized to sign them by the Board of Directors.

ARTICLE IX

DUES AND INITIATION FEES

SECTION 1:

The Board of Directors shall from time to time set annual dues and initiation fees. Dues shall be payable on or before January 1 of each year and any member not paying such dues shall be deemed delinquent on said date. However, the Board may waive initiation fees or waive or postpone dues in cases of hardship or in other special circumstances as the Board may see fit. (See 10/19/95 annual minutes re free membership after age 80 and 25 years).

SECTION 2:

The Board of Directors may, with the approval of the membership, levy special assessments upon members, which assessments shall be considered additional dues.

SECTION 3:

In the event of the nonpayment of dues by March 1 of each year, a member shall be barred from the use of club facilities until such dues have been paid.

SECTION 4:

In the event a member shall be 12 months in arrears in the payment of dues, he shall be deemed to have resigned from the club and shall thereafter have no right to use the club facilities, nor shall be entitled to reinstate his membership except upon the meeting of the requirements of a new member including the payment of all initiation fees. (see annual meeting notes for 10/2006 waiving initiation fee for 2007 reinstatements).

ARTICLE X

These Bylaws may be amended only by vote of a simple majority of the membership present at a duly constituted meeting of the membership.

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LYNCO CLUB, INC. RULES AND REGULATIONS

SWIMMING (Swim Area Hours 8:00 AM to 8:00 PM)

1.      No person shall swim alone at any time

2.      No swimming allowed 20 feet beyond the lake shore after 12 noon

3.      No swimming allowed after sunset in the pier/swim area

4.      No swimming allowed on the boat side of the pier

5.      Children 13 years old and under must be accompanied by a competent swimmer who

        is at least 14 years old.

6.      No pets are allowed in swim area

7.      No glass containers are allowed in the swim area

8.      No dunking, chicken fights, keep-away, or throwing of objects allowed in swim area

9.      No running on the piers is allowed

10.   No fishing from the pier or the beach area is allowed

11.   No arguing with a lifeguard is allowed; his/her word is law

12.   No alcoholic beverages are allowed in the swim area

13.   No foul or abusive language is allowed in the swim area

14.   Guests must be accompanied by a Member at all times or have member's ID card

15.   Notice is hereby given that misconduct or abuse of the above rules will, at minimum, result in a warning, duly recorded, by the lifeguard or a Board Member. A second such violation will result in the suspension of the perpetrator's Club privileges for at least 2 weeks. When a minor is involved, parents of the suspended individual will be notified in writing. Members are to instruct family members and guests of the importance of water safety and assure that they know Lynco's rules. Any lifeguard on duty will be charged to provide safety supervision, lifesaving if necessary; and to control the swim area and facilities. However, the presence of a lifeguard is not to be taken as a guarantee of safety and she/he is not to be looked upon as a baby sitter

BOATING

1.      Except as provided below, all boats (includes any water craft) used on the lake must be registered and inspected by Lynco Club, Inc. annually and display a current year Lynco decal on the right-hand corner of the windshield, or on the stern if there is no windshield. This sticker will be applied by Lynco Lake Safety Committee members following inspection of the watercraft and presentation of required liability insurance information by the  member. Members must sign upon receipt of Lynco, Inc. boating rules signifying that they and family members will follow the rules.

2.      No guest boats are allowed on the lake at any time.

3.      No unregistered boat may be test driven or used on the lake without prior permission of the Lynco Board.

4.      Only one motorized watercraft  per member allowed to operate on the lake at one time

5.      All boats must comply with U.S. Coast Guard safety rules and regulations as generally applicable to similar inland waters

6.      Boats and skiers must keep to the right, no closer than 25 feet from shore

7.      Boats towing skiers must have at least two competent people in the vessel: a driver to control the path of the boat and a lookout to watch the skier and warn the driver whenever the skier is down

8.      No more than 3 boats towing skiers or other persons in any manner allowed at one time

9.      Speed limit before noon and after sunset  and in all areas marked by buoys is 7.5 mph.

10.   All boats operating before sunrise or after sunset must display a light

11.   Except as provided below, the maximum length of boats on the lake is 17 feet for other than pontoon boats and 20 feet for pontoon boats

12.  Motorized watercraft are limited to 90 horsepower engines.

13.   No inboard motors, except as provided above for personal water craft (Jet Skis, Sea Dos)

14.   The operation of jet skis, surf jets, and wet bikes, or any other personal watercraft, is prohibited at all times. As used in this rule, "personal watercraft" shall mean a vessel propelled by a water jet pump or other machinery as its primary source of motor propulsion, which is designed to be operated by a person sitting, standing or kneeling on the vessel, rather than being operated in the conventional manner by a person sitting or standing inside the vessel.

* Note: Jet skis and other personal watercraft registered with Lynco in member year 2008 will continue to be allowed on the lake for as long as the membership is kept active, and in good standing, and the vessel continues to pass inspection. If membership is allowed to lapse, the jet ski will not be allowed to be re-registered. If the jet skis do not pass the annual Lynco inspection, they will not be allowed to be registered. Any replacement jet ski will not be allowed to be registered.

15.   An additional exception applies to the recreational use of a registered boat which meets the maximum length requirement but which has mounted thereon a motor exceeding the maximum horsepower rule. Such a boat may be operated provided the motor is kept covered at all times and the boat is operated only by means of an electric trolling motor

16.   No water craft allowed to follow closer than 150 feet from another water craft or persons on water skis or otherwise being towed by another water craft

17.   Boat trailers must be removed from the Club launch ramp immediately upon launching or retrieving.

18.   Failure to follow any or all of these rules will be addressed by giving a warning to the member; a second offense will result in suspension of all membership privileges for 2 calendar weeks; a third offence will result in suspension of all membership privileges for the remainder of the membership year.

FISHING (Rule 3 subject to change, check with Board member)

1.      Fishing is allowed at all designated locations of Club property, except at the pier surrounding the swim area.

2.      All carp and all tagged fish, regardless of size, when caught, are to be returned to the lake.

3.      All bass under 13 inches, when caught, are to be removed from the lake. All other fish caught, including, but not limited to, carp, brim, crappie and catfish are to be returned to the lake as quickly as possible and as unharmed as possible (rule subject to change, check signs and Newsletter).

4.     No net fishing.

5.     Bait fish must not come from Lynwood Lakes.

GENERAL

1.     Open fires on Lynco property are prohibited.

2.     Fires set in authorized containers (e. g., barbecue grills) will be attended at all times and completely extinguished when no longer needed.

3.      Carelessness or vandalism resulting in damage to Club property is to be reported to a Member of the Board of Directors, or to the Guilford County Sheriff's Department, by any Member witnessing such action.

4.     The use of alcoholic beverages is prohibited on Club property, except for special events and by permit issued by the Board of Directors.

5.     The Lynco Club, Inc. Board of Directors may revoke or suspend the Membership or membership privileges (including those of members of the Member's household) of any Member who refuses to abide by its Bylaws, rules, and regulations; or who is found to be guilty of conduct unbecoming a member including participation in any action that is determined by an appropriate vote of the Board of Directors to constitute a nuisance or hazard to the community. In such event, there shall be no refund of any dues or fees paid.

6.     Lakeside property owners wishing to build docks or walls must have construction plans approved, in advance by the Chair of the Piers and Walls Committee. General guidelines: no floating docks; maximum length of dock 15 feet from shore; retaining wall plans must meet minimum requirements based on Lynco Club, Inc. drawing No 91177, dated September 11, 1977.

7.      All docks and retaining walls will be inspected each year for safety and appearance by the Piers and Walls Committee. Any action deemed necessary by that Committee will be reported to the Board of Directors who have the authority to require the Member responsible to remove, repair or replace any pier or wall determined to be unacceptable.

8.     The water level of the lake is controlled by a device used to plug the dam. When deemed necessary, the plug shall be removed to lower the water level. Lynco will not be responsible for any property or other damage resulting from changes in water level.

9.     Unless otherwise permitted by the Board, the swim and shelter area will be closed to all persons -- including Members -- from one half hour after sunset to one half hour before sunrise each day

These rules and regulations are provided for the safety and welfare of all Lynco Club Members and their guests. So that all Members receive the maximum benefit from Lynco property, all Members must become familiar with and comply with these rules and regulations. It is imperative that SAFETY be the primary concern for all who use Lynco recreational facilities. Members will at all times and in all ways be responsible for their guests.

Lynco Board of Directors