PAB is organized under the Michigan Resort Act of 1897. It is governed by a 9 member Board in accordance with bylaws, articles of incorporation and policies and procedures outlined in the cottage owners handbook. The corporation owns virtually all property within the resort. Individual cottage owners own stock with land attached in the corporation. Therefore, property can not be mortgaged. Cottage owners pay tax on their individual parcels as well as a share of the corporate tax bill. Prospective purchasers are required to fill out an application to purchase stock in the corporation. There is a Season’s Charge which covers the operating and maintenance expenses of the corporation; and a Capital Charge which varies annually.