Lapsed member definition
Lapsed member means a member who has failed to pay their annual membership fee or otherwise failed to renew their membership for less than two years past the deadline of midnight on March 31 of a membership year.
Lapsed member means a member non-compliant with the membership requirements of the membership class.
Lapsed member means a person who may renew their membership without penalty for a grace period of 90 days, starting on the day after the day on which their membership expired. If membership is renewed within the 90 day period, voting rights are restored immediately. If the membership is renewed after more than 90 days have passed, the member must wait 30 days from the date of renewal before they may exercise voting rights.
Examples of Lapsed member in a sentence
Lapsed member status may also be subject to non-member fees and commission rates.
More Definitions of Lapsed member
Lapsed member means any Member who otherwise would be considered a member in good standing.