General steps in order for the Ditch Company to transfer a stock certificate to a new owner, allowing the Ditch Company to formally recognize the share owner as a shareholder.
Inform the Board:
Inform the Ditch Company that you wish to transfer an original certificate to a new certificate.
All information will be reviewed by the Board to make a final determination.
Verification that all outstanding assessments on the stock has been paid.
The original stock certificate is valid.
The original stock certificate can legally be transferred.
If the Original Stock Certificate Holder(s) are Deceased, You Will Need To Provide:
Original stock certificate. If the original has been lost, please follow procedures for Lost Stock Certificate.
Copy of the death certificate.
Letter(s) of testamentary showing that transferer(s) have the right to acquire the subject shares.
For example, Last Will & Testament
If applicable, also provide evidence that others listed as heirs to the subject shares no longer hold a claim to the subject shares.
Transfer Original Certificate to New Owner:
The original stock certificate, properly endorsed, is presented at the time of transfer.
How to endorse the back of original certificate if unable to meet with a board member:
For Value Received, I or We hereby sell, assign, and transfer unto Person or Organization *# of Shares Shares of the Capital Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint The Company Secretary to transfer the said Stock on the book of the within named Corporation with full power of substitution in the premises.
Dated Date of Transaction
**In presence of Name of witness
Blank line Name(s) of Seller
If unable to transfer in the presence of a board member, please send notarized endorsed certificate to the Ditch Company via certified mail.
*Please contact the Corporate Secretary if shares from original certificate are to be split into two or more new certificates. If the original certificate is being split, new certificates will only be issued for 0.5 (1/2) shares or above.
**Notary is required if signer(s) are unable to complete signatures in the presence of a board member.
Issue New Certificate to New Owner
Transfer fees to be paid, $50 per new certificate issued.
A new certificate will be issued in the name specified on the back of the original certificate.
Certificate may be notarized. Notarization is not mandatory, but highly encouraged.
Transfer will be documented and the shareholder list updated.
This criterion is not meant to be comprehensive. The Board may require additional information.
Though ditch company stock certificates are considered personal property in the State of Colorado and may be sold by the rightful owner without the Ditch Company's consent, failure to properly transfer the stock certificate to be recognized as a shareholder may result in the termination of water delivery.