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Deposit Policy

(As revised and approved by the Board of Directors 2016)

1. Submitting Deposits: 

    The following provisions shall govern submission of member deposits and NASCO membership fees.

    A. NASCO Membership Fees

        1. All resident members shall submit a one-time NASCO membership fee of $40. This fee is due upon move-in. This fee is non-refundable. 
        2. Current members of NASCO are not exempt from this fee. NASCO no longer recognizes life-time memberships.

    B. Resident Member Deposits.

        All resident members shall submit a deposit of $300. The deposit may be paid in one or two installments (one installment, $300 due at move-in; two installments, $150 due at move-in and $150 due one month after move-in).
        No membership contract shall be deemed accepted by SCA without receipt of the full deposit.

    C. Boarder Member Deposits.
        1. All boarder applicants must submit a deposit of one term's worth of applicable boarder fees at the beginning of the term.
        2. Boarder members are not required to pay the NASCO membership fee.

2. Refunding Deposits The following provisions shall govern refunds of membership deposits.

    A. Should a member leave at the end of a term after having given thirty (30) days' written notice to the house Membership Coordinator, return all keys and SCA property, leave his/her room and appropriate property clean and in good repair, and properly submit a check-out form prior to terminating tenancy, the member shall be eligible to receive a refund of their deposit and overpaid membership fees. SCA shall reserve the right to assess fines, debts, or cleaning or property replacement fees deductible from the deposit. Cleaning and property replacement fees shall be determined by reference to the member's check-out form.

    B. A member who terminates on fewer than thirty (30) days' notice shall be assessed prorated membership fees for thirty (30) days after written notice is submitted to the house Membership Coordinator, or expiration of their contract, whichever is first.

    C. Should a member leave in the middle of the term and have given a 30 days' notice, the member shall be eligible for a refund of half of their deposit, after all fees have been paid.

    D. Should a member leave the SCA without giving a 30 days' notice, the member shall not be eligible for a return of their deposit. 

    E. In all of the above cases, a portion of the deposit ($25.00) will be kept if the member does not clean his/her room upon moving out. This $25.00 will be credited to the house maintenance account to cover the costs of cleaning, painting, and repairing any damage to the room. "Clean" shall be determined by reviewing the list developed by the Building Czar, and at the House Membership Coordinator's discretion, and marked in the appropriate section of the check out form. If the damage exceeds $25.00, the Membership Coordinator should make a note of it and the Building Czar should charge for the damages accordingly.\

    F. If a member is a cosigner on another member's promissory note, the deposit of the member-cosigner will be held until the promissory note is paid in full.

    G. SCA shall submit an accounting of a former member's deposit and deduction and any refund due, within thirty (30) days of the member's terminating tenancy or submitting a check-out form, whichever is later. If a former member does not submit a check-out form within ninety (90) days of termination, any amounts due the member by SCA are forfeited to SCA.

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