Class A Memberships (LakeFront Property)
Class A Membership Requirements:
To apply to become a Class A member of the Sherwood Lake Club, the following requirements must be met:
You must own and reside in your home.
Your home must share a board with the lake so that you have direct lake access from your property.
An application must be completed accompanied by required documentation Click here for membership application form. If property is in a Trust, please use this Trust Application.
After you submit the application, you will be billed for the joining fee, stock purchase, and pro-rata annual dues for current year.
You will not be a member until after the Board of Directions approves the membership, normally at the next monthly board meeting.
Of note: If a property owner of a property eligible for Class A membership chooses not to join at first opportunity, there are restrictions on joining later and fees will accumulate if and when you are able to join later. If you have not joined when you sell the property, the new owner will be required to pay the accumulated fees in order to join.
Class A Membership Fees
Joining Fee:
The Joining Fee is $8,000 and can be paid in a modified installment plan. if desired. There are a maximum of 185 Class A memberships.
Capital Stock:
You must pay $200.00 for one share of stock. upon joining. Later, upon surrendering your membership, the stock will be repurchased by the club for $200.
Annual Dues:
The Annual Dues for Class A Memberships is $950.00. This will be prorated the first year depending on the month you join.
Insurance Assessment:
Members are assessed annually, usually in August, for a share of the insurance costs the club pays. The 2023 assessment for $70.32 per member.
Special Assessments:
Special Assessments may happen. For instance, a special assessment will likely occur when a required major Dam-Spillway Rehabilitation Project is required to be funded.
# All dollar amounts listed are subject to change at any time.
