§ 405-8. Boat ownership restrictions.

Boat slips will be leased to individuals only. No boat slip shall be leased to any corporation, company, partnership, association or any form of combination of persons. It is the intent of this regulation to provide the periodic turnover in boat slips. No survivorship rights are allowed or intended. The lessee and the owner of the vessel shall be one and the same. The full name(s) of the owner or owners of the vessel and the percent of ownership each owner claims to said vessel must be accurately stated upon the application. Proof of the vessel's documentation or state registration and the ownership or corporate status must be verified by the ship's papers and the current ownership or corporate papers. Said papers must show the ownership or corporate principals and percent of ownership and they will remain on file. Any change in percent of ownership of the vessel must be approved by the Town's Harbormaster after receipt of a recommendation from the Town's Waterways Committee. Any unapproved change in percent of ownership of the vessel shall be grounds for termination of the slip, and the contract shall be deemed null and void with all fees forfeited. It shall remain the prerogative of the Harbormaster to review these papers at any time to insure compliance.