Bond Redemption
Bond Information: Bond holders may decline to use their membership for one full season. In lieu of paying the full dues amount for that season, the member pays a “leasing fee” to be set annually (currently $100) by the Board of Governors. Membership may “lease” their bond for 1 year. After the 1 year all members who are delinquent as of May 15th shall lose their membership privileges and shall be suspended effective May20th of that year, their bond will be sold and the proceeds from the sale of their bond, minus fifty $50 dollars, will be returned to the member.
When the time is appropriate for you and your family to sell your bond, please follow these instructions:
Sign and date the back of your bond and send it to the address below.
PLEASE NOTE: May15th deadline Bonds turned in for redemption must be received by May15th of the current season. Please complete and submit the on-line Indemnity Form. The indemnity form will get your name on the Redemption list sooner. Bonds must also be returned. Be sure to sign and date the back of your bond and mail it to:
LPSC
PO Box 670
Broomall, PA 19008
.
As soon as your signed bond or indemnity letter is received, you will be put onto our seller's list. Bonds are sold in the order that they are received and begin selling in early spring through mid-June. When your bond is sold, our treasurer will forward a redemption check to you.
Note: As an alternative to having his/her bond placed on the seller's list, a bondholder may choose to "swim off" his/her bond. This option allows the bondholder to use the value of his bond to pay for a final season of dues. Bonds must be at full value. If this option interests you, please send an email to [email protected] with "swim off" in the subject line.
If you have questions or need further information, please contact Lawrence Park Swim Club at [email protected].
Lawrence Park Swim Club
Board of Governors
Address to Send Bond Redemption Information:
Lawrence Park Swim Club
P. O. Box 670
Broomall, PA 19008
