Facts About Shares


Original shareholders of Arden Beaches, Inc. founded December 17, 1975 were comprised of the property owners who committed funds to the organization in the form of pledges and donations. Certificates of shares were issued to those property owners after the successful purchase of the profit-driven organization known as Beach Shores, Inc./Sunrise Beach, Inc. and its affiliated properties. From this purchase, Arden Beaches, Inc. was founded January 1, 1976, with its bylaws being adopted on August 9, 1976. 

The shares process was established based upon the original commitment to those residents who contributed or loaned funds for the purchase of the organization. As part of the contribution arrangement, subsequent shares certificates were issued through the bylaws effected on August 9, 1976. In exchange for the financial contribution to assist with the purchase of Beach Shores, Inc./Sunrise Beach, Inc., each $100 donation entitled the shareholder to two (block-casted) votes in the organization’s business. Shares have no monetary value or representation of ownership of the organization or its properties, only voting power.

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