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.
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Lapsed member means a member non-compliant with the membership requirements of the membership class.
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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.
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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.
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Related to Lapsed member

  • Qualified Member means a member of the Committee who is a “Non-Employee Director” within the meaning of Rule 16b-3(b)(3) and an “outside director” within the meaning of Regulation 1.162-27 under Code Section 162(m).

  • Co-opted Member means a person who is not a member of the authority but who-

  • Deferred member means a person who elected to receive deferred vested retirement

  • Unit Member refers to any employee who is included in the appropriate unit as defined in Article II and therefore covered by the terms and provisions of this Agreement.

  • Independent Member of the board means a member of the board who has no business, family or other relationship that raises a conflict of interests regarding the CCP concerned or its controlling shareholders, its management or its clearing members, and who has had no such relationship during the five years preceding his membership of the board;