membership

CLASSIFICATION OF MEMBERSHIP

1. REGULAR MEMBERSHIP

Purchase of Share ......... Php 1.5 million

(if share bought from MYC, transfer, processing, and entrance fee are waived)

Transfer fee .................................. Php 150,000.00

Non-refundable processing fee ....... Php 100,000.00

Refundable entrance fee ................ Php 300,000.00

Membership dues .......................... Php 1,000.00/month

Patronage fee ................................ Php 1,500.00/month

2. USAGE OF RIGHTS

Usage of Right has no expiration but may be assigned for a period of one (1) year depending on agreement between parties. This applies for the additional/optional share of a Founding member.

Usage of right fee .............. Php 200,000.00

Membership dues ............. Php 1,000.00/month

Patronage fee ................... Php 1,500.00/month

3. ASSOCIATE MEMBERSHIP

A. Associate Sailing Membership

Membership is for a period of three (3) years only. Renewable for similar period by the Board of Directors. Applicants must be a person who has at least one (1) year sailing experience and who regularly participates in the sailing activities of the Club, included are thos who are in the Philippines on a temporary stay such as transient expat, officers and directors of reputable companies, ADB personnel, and foreign diplomatic officials.

3 year Entrance fee ......... Php 150,000.00

Memberhip dues .............. Php 1,000.00/month

Patronage fee .................. Php 1,500.00/month

Associate Sailing Membership carries mooring rights but no voting rights, and requires financial guaranty of boat owner/member.

B. Associate Crew Membership

Crew of regular member's yacht or boat such as skipper or navigator but excluding ordinary boat-boys. Applicant must provide a valuable service to the member as a legitimate crew of the member's yacht. Membership is intended for low income crew of a member's yacht. Crew membership is for a period of one (1) year, renewable for a similar period by the Board of Directors.

Entrance fee ................... Php 10,000.00/year

Membership dues ........... Php 1,000.00/month

Patronage fee ................. Php 1,500.00/month

C. Associate Guest Membership

Applicant must be a person/individual who can provide valuable service and/or give prestige to the Club, by reason of his/her position in government or other public/private institution. Membership is for a period of one (1) year, renewable for a similar period by the Board of Directors.

No Entrance fee

D. Associate Sail Training Membership

A participant or graduate of the Club's Sail Training Program. Assist in Race Management or in the Sail Training Program as certified by the Race Committee Chairman of the Club. It is intended to provide a financially less demanding but limited entree point in the Club for low income sailors. Membership is for a period of one (1) year renewable for similar period by the Club Board of Directors.

Entrance Fee ................. Php 5,000.00/year

Membership dues .......... Php 1,000.00/month

Patronage fee ................ Php 1,500.00/month

4. HONORARY MEMBERSHIP

Are those who, by reason of their rank or position in public office or because of some valuable services rendered by them to the Club or public offices. The duration of their membership shall be at the discretion of the Club Board of Directors, but in no case to exceed the term of their office. Considered Honorary Members are: President of the Philippines, Flag Officer-in-Command of the Philippine Navy, Commandant of the Philippine Coast Guard and the Mayor of Manila.

5. LIFE MEMBERSHIP

Any Founding Member of the Club for thirty (30) years shall become a Life Member and shall be exempted from paying the monthly membership dues. The privilege of Life membership attaches to the person of the Life Member and does not attach to the share of stock in the Club which he must own.

PROCEDURE FOR MEMBERSHIP

1. Applicants for membership must be proposed and seconded by Regular Members of the Club in good standing and who have been a Regular Members for at least 3 years and 1 year respectively.

2. Qualified Regular Members are limited to propose and second two (2) applicants for membership during one calendar year.

3. Proposer and seconder must write a letter of recommendation substantiating the qualifications of the applicant, giving such particulars of his family and background, character and general fitness for Club membership as may be pertinent.

4. Applicant must submit his Biodata/Curriculum Vitae.

5. Submit Deed of Sale, if the applicant bought the Club shares of stock from a Regular Member.

6. Applicant is subject to the recommendation of the Club Membership Committee and approval of the Board of Directors.