Partnership & Membership
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STONEWALL MEMBERSHIP POlICIES

The following summarize the current membership policies in effect at Stonewall Links, L.P., including the current categories of playing privilege holders (or playing members) for limited partners and certain non-equity members.

(A)         Playing Privilege Categories

Playing privileges shall be granted and maintained in the discretion of the General Partner, and shall fall into one of the following general categories:

EQUITY

Resident:           

Partner with a residence located within 75 miles of Stonewall

Senior:                 Resident partners who are 70 and older – pay 75% of regular resident dues

Super Senior:      

Resident partners who are 75 and older – pay 50% of regular resident dues

Non-Resident:    

Partner with no residence (whether primary or otherwise) located within 75 miles of Stonewall

May bring guests to play at normal greens fees

$1,200 annual dues; and not eligible for senior or super senior status

 

NON-EQUITY

National:       

No residence located (whether primary or otherwise) within 75 miles from Stonewall

Must be a member or partner of another private golf club

Limited to a maximum of 12 rounds of golf at Stonewall in any calendar year plus rounds played while a paying overnight guest at Stonewall

May bring guests to play at normal greens fees

No requirement for Unit ownership

No requirement to pay assessments

$1,950 per year dues

Entitled to use of overnight accommodations in the farmhouse at no charge for up to 6 nights annually  for the National member and up to 3 guests who are then playing Stonewall (subject to availability)

Junior:     

Younger than 35 years old on January 1

No limitations on play

No requirement of Unit ownership

Dues are a percentage of regular dues equal to:

              40% for those under 30 on January 1
              66% for those under 35 on January 1

Credit against payments due to Partnership in any future Unit purchase equal to 20% of dues paid, in the aggregate, not to exceed $7,500

 

Partner Adult Children:

Younger than 40 years old on January 1

No limitations on play

No requirement of Unit ownership

Must be son or daughter or grandson or granddaughter of an active Stonewall Partner.

Annual dues are equal to 10% of regular dues

 

 Dining:

Right to dine at Stonewall without restriction

May bring guests without restriction

Must join Stonewall Reserve if they desire adult beverages

Annual dues $750 of which one-half is credited toward food charges incurred by member that year

Note:      all mileage references are calculated by the direct (as the crow flies) distance between Stonewall and the partner’s closest residence.

(B)         Spouses

In all playing privilege or membership categories the spouse of the privilege holder or member shall be entitled to the same playing privileges without any additional charge.

(C)         Minor Children

Playing privileges may be extended for children of Partners, regardless of number, who are under the age of 23 and either living in the Partner’s house or attending school full time by the payment of annual dues of $500 in the aggregate for as many children in the family. 

(D)         Unit Ownership

Must be an accredited investor, but no distinction between individuals, partnerships and corporations as owners.  Retirement plans that are accredited investors may also be a unit owner, but the Partnership shall not advise or confirm that a unit is a permitted investment under the plan.

(E)         Non-Owner Designee

No person can be designee with playing privileges for more than three consecutive years, without the consent of the General Partner, if such designee is not the unit holder or directly related to, or an owner of, or an executive officer of, the unit holder.

(F)         Dues

Dues shall be payable by the person having playing privileges as follows:

 

Date Start

% of Dues Payable

 

1/1 – 6/30

100%

 

7/1 – 7/31

50%

 

8/1 – 8/31

40%

 

9/1 – 9/30

30%

 

10/1 – 12/31

5%

 

(G)         Unescorted Groups

A holder of playing privileges may, in each case with the permission of the golf shop staff, send up to ten (10) foursomes to play at Stonewall without his presence in each calendar year; provided that (i) unescorted groups may be assessed a different guest fee based on the then current policy of Stonewall; and (ii) if more than one foursome arranged by the same playing privilege holder are playing unescorted on the same day they shall be considered an outing and governed by rules and charges applicable to outings.

Except to the extent specifically provided in the Partnership Agreement, Stonewall’s membership policies are subject to change from time to time and at any time in the discretion of the General Partner.

 

 

Putting in the calm of the courtyard.