Installment Payment Plan (IPP)

1. Installment Payment Plan (IPP) may be issued to those applicants who have applied for and been accepted as Proprietary or Non-Proprietary members, and have been permitted to pay for their memberships over a period of time not to exceed 13 months. Regardless of the fact that the IPP member has applied for a Proprietary membership, the member shall be deemed to be a Non-Proprietary member until full payment for his membership has been made.

2. Currently, IPP is only available for Regular and Regular Firm memberships with the initiation fee payable in two (2) installments over a 12 month period. Initial payment in the amount of half of the initiation fee is due with the application. Final payment due on first year Anniversary 12 months after membership begins.

3. IPP members shall have the same rights and privileges as members of the same class or type whose memberships are fully paid, except that in no event shall an IPP member have the right to vote, hold office, propose new members, or transfer the membership.

4. An IPP membership shall not have any right of transfer until it has been fully paid.

5. Although there are no limitations as to the number of allowable IPP memberships, the Board of Directors at its sole discretion may at any time so limit the number of these memberships.