You could,
however before you dump it in, check with the lake patrol or whoever owns the lake (city, state) to see what the regulations are. here is what i'd take for granted rule wise:
if it is a popular water sport area, there is a good chance you need to buy a boating permit from the lake owners to use it. (larger lakes)
if this is an unused little lake, you probably are allowed to, and i'd go for it (unless it is private property), but if for some reason a police tries to get your attention (for whatever reason)... make sure you listen!
I had the same question about a lake near where i used to live, i emailed the city directors, and they told me about 3 days later that all nonmotorized boats were allowed... so play it safe and ask a city official beforehand.