Stock Redemption Policy
Application for resignation and redemption of stock must be made by letter to the Board (P.O. Box 835, Blacksburg, VA 24063) before March 1 for the current season to avoid indebtedness for the annual dues. The stock certificate must be returned to the Club, dated, and signed on the back by the person(s) listed on the front of the certificate. A check for the current value of the stock ($300) will be made out to the person(s) to whom the certificate was issued. This check will be sent out after the membership is sold to a replacement member. At the current time, the Club has a long waiting list for membership, and sale will be to the first applicant on the waiting list.
Inactive Stockholders
A Shawnee Swim Club stockholder may choose to become inactive by notifying the Board before March 1 of the year of the year in which he/she wishes to become inactive. An inactive stockholder is not liable for the annual dues and forfeits all privileges of membership until he/she returns to active status. Inactive members do not receive Shawnee Swim Club mailings, and it is the responsibility of the inactive member to keep the Club up-to-date on his address changes. An inactive member may request reinstatement to active status by letter to the Board. Active status will be granted as vacancies occur and will require a reinstatement fee of $50.00 in addition to payment of the annual dues. Since stock transactions take place before March 1, it is recommended that an inactive stockholder who wishes to reactivate should do so by the middle of February of the year in which he/she wishes to reactivate to be assured of having a membership slot available. Payment of the reactivation fee places the name of the inactive stockholder at the top of the waiting list for membership.
If an inactive stockholder decides that he/she wishes to redeem the stock, a letter stating this request is to be sent to the Board with the reinstatement fee of $50.00, along with the stock certificate, dated and signed on the back as outlined in the redemption instructions.
Summer Transfers
Stockholders who do not wish to use their pool privileges for one particular summer but who do not wish to give up their stock nor become inactive, may notify the Club before March 15 of the season in which they do not wish to use their membership and pay a summer transfer fee ($50.00 at the present time) The Club will then offer the summer privileges to the first family on the waiting list.