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Membership – Stock Policies
Bayside Swimming Club Stock Sale, Stock Transfer and Payment Policies
Membership fees are due each year by March 1st. Members who pay after March1st must pay an additional $50 in late fees. Names of unpaid members will be posted at the pool and these members will not be allowed to use the facilities until all dues and fees are paid in full. This policy has become necessary to encourage members to pay by the due date so we can process memberships in time for the pool opening.
Members must let us know they are selling their stock by March 1st. Members selling after March 1st will be charged the $50 late fee, which will be taken out of the transaction price of stock. This deadline is necessary to offer stock to a waitlisted member and to complete the sale prior to the opening date of the pool.
There are no stock transactions from May 1st to September 30th.
In order to sell a membership, a Consent to Sell form must be completed by the original owner(s) listed on the stock certificate. The transaction price of stock is $50 payable by both the buyer and seller. Members are required to turn in their stock certificate before receiving payment. If members have lost their stock certificate, a Lost Stock Form will be provided.
The fee to transfer stock is $50 if a new stock certificate will be issued. Transfer of stock from one spouse to another must be supported by documentation in the form of a letter from an attorney, the spouse transferring stock or a page showing transfer from a divorce settlement. Stock may also be transferred to a son or daughter, or through the sale of a home (if purchased prior to December 31, 1975) as outlined in the club bylaws. A Stock Transfer Form will be provided and must be filled out by the original owners of the stock certificate.
Members are advised to refer to the Bayside Swimming Club Bylaws for additional stock transaction policies.
For more information regarding stock sales and transfers, please contact Sandie Koplowitz, Membership Co-chair, sankop@comcast.net or 319-5088.
Updated: 03/01/2010
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