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Do shares “expire”? My father bought a share in a private country club.

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  • Do shares “expire”? My father bought a share in a private country club.

    Do shares “expire” ?
    In 1967 my father bought a share in a private country Club in Shreveport Louisiana.
    My father is now dead, but I still have the document confirming that the share was never redeemed.
    I contacted the club and they told me that the share has now “expired”. Is this correct or can I still cash it, and if so I do I proceed (I now live in Italy). Best regards. Anna S.

  • #2
    re: Do shares “expire”? My father bought a share in a private country club.

    In case of Club there are generally two points to be noted. Firstly, ownership of a Club may be with a corporation whose shares do not expire and the Club generally has members. Shares of a corporation have a perpetual existence. Till the time corporation is in existence, the shares of a corporation are valid. The shares of the corporation can be bought back and extinguished by the corporation from its shareholders. However, the shares do not expire. The shares duration is till the company is in existence. Shareholders can sell their shares at any time they may like unless some limitation is specifically made on the sale of shares. In case of membership of a Club that may be for some time period and it may expire after some time.

    AFF

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