Each member is required to own five shares of corporate stock. Par Value is $70 per share.
Stock may be bought by private sellers, or occasionally Ridgewood Swim Club has shares available that have been acquired by default. If you're interested in buying or selling stock in Ridgewood Swim Club, please email us or check out our Facebook page to find a possible private seller. Ridgewood does not "make a market" in stock sales, and these are generally private transactions between current members and potential buyers (with the exception of shares that have reverted back to the Corporation by default).
According the Bylaws, stock is in default if full payment of annual dues and/or any late fees have not been paid by 30 days of the due date, May 1 of each year. If stock is in default, it will be revoked by the Board and resold to cover annual membership dues.
Contact the pool directly at firstname.lastname@example.org to find out if we have stock available for purchase. If so, the Membership Chair will provide instructions on how to purchase directly from us
The pool will need the following to complete the transfer:
1. Old stock certificate from the seller signed by all owners on the back.
2. $25 transfer fee (payable to Ridgewood Swim Club, Inc.)
3. All information for new stockholders (including names, mailing address, phone number, and email address).
After the above has been sent to the pool, you should receive a welcome letter and new stock certificate in the mail within 4 weeks. If you do not receive this material within four weeks, please contact the pool via email.
Please keep us advised of stock sales/transfers. We cannot issue new stock certificate without the information to process a transfer. It normally takes 4 weeks to issue new certificates, but this will be longer in the off season.
Stock cost is a one time fee of $350.00. This enacts your membership in Ridgewood Swim Club.
Annual Dues of $500 are payable each year in order to maintain membership. Failure to pay dues (on time or late) will result in a default of your stock ownership and the stock will revert back to ownership by Ridgewood Swim Club.
There is a one time Application Fee for each new member for processing and setting up your membership profile.