Stock Purchase
Process
Purchasing stock shares in Laurel Run is a one-time fee required to become a full member of the pool association. There are two options available to purchase stock in the Laurel Run Swimming Association:
- You may purchase stock directly from the Pool Association at a cost of $225. The check should be made payable to “Laurel Run Swimming Association” and should include the cost of the stock purchase plus the yearly membership dues. The check should be mailed to the address below along with a New Member Application completely filled out.
- You may contact a current stockholder who is looking to sell their stock. If a private transaction takes place, the stock seller must complete a Stock Transfer Certification to record the sale. The cost of the stock can be paid directly to the owner in exchange for a Stock Transfer Certification. We can provide you with a list of families interested in selling their stock.
Responsibility
All Members are obligated under the Bylaws to pay yearly dues. The dues are necessary to protect the investment of each Member to pay for the yearly operations, management and maintenance of the pool. Any Member who has failed to pay his or her yearly dues has failed to contribute to these costs and expenses and has failed to fulfill his or her obligations as a Member. Therefore, any Member who has failed to pay his or her dues for three consecutive summers, without the prior written approval of the Board of Directors, which shall be issued in the Board's sole discretion, shall automatically have his or her membership revoked and the value of his or her stock shall be applied to the Member's deficient dues. The value of the Member's stock shall be reduced to zero and the membership cancelled on the books of the Association.
All Members are obligated under the Bylaws to pay yearly dues. The dues are necessary to protect the investment of each Member to pay for the yearly operations, management and maintenance of the pool. Any Member who has failed to pay his or her yearly dues has failed to contribute to these costs and expenses and has failed to fulfill his or her obligations as a Member. Therefore, any Member who has failed to pay his or her dues for three consecutive summers, without the prior written approval of the Board of Directors, which shall be issued in the Board's sole discretion, shall automatically have his or her membership revoked and the value of his or her stock shall be applied to the Member's deficient dues. The value of the Member's stock shall be reduced to zero and the membership cancelled on the books of the Association.
Options
If a Member intends to not remain as a member, he or she is encouraged to use the value of his or her stock ($225) as dues, with additional payment for the difference, for the last year of membership. To do so, send a note with your check and application explaining your desire to use the value of your stock as dues by the membership due date.
If Members do not wish to use the value of their stock as dues, the Members may request to be placed on a stock sell list by sending an email to [email protected] or by completing a Stock Sell List Request. The Stock Sell List Request should be mailed to the P.O. Box below or turned in to the office. The stock sell list is maintained by the Association as a courtesy to the Members without the requirement of full payment of yearly dues. Members may remain on the stock sale list for three consecutive summers. If the stock is not sold after the third summer, the value of the stock shall be applied to the Member's deficient dues. The value of the Member's stock shall be reduced to zero and the membership cancelled on the books of the Association.
Laurel Run does not take any affirmative action to sell a Member's stock. It is up to the Member to sell his or her stock. The stock sale list is maintained as a courtesy and is provided to individuals who request the list.
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Laurel Run Swimming Association
P.O. Box 13633
Reading, PA 19612-3633
Laurel Run Swimming Association
P.O. Box 13633
Reading, PA 19612-3633