This is the HOME PAGE of
The WAYSIDE LAND COMPANY, Inc.
The URL of this page is:
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This webpage is a subsite on www.ChipLakeNEWS.org.
The 2017 Meeting of Shareholders will be scheduled at the clubhouse of the Wayside Skeet Club and all shareholders will be notified of the day and time in advance.
The Officers and Directors of the WLC hold unscheduled meetings as necessary, particularily when a share is being offered for sale or upon notice when a share is to be gifted to a spouse or direct-line descendent.
WLC share owners are required to pay an annual CAPITAL INVESTMENT CONTRIBUTION (CIC) regardless of the number of shares each individual shareholder owns. The amount of the CIC and the late payment fee is set by the membership at its Annual Meeting (currently $40.00). A late payment fee is assessed annually for outstanding CIC payments.
For more information, contact the Secretary or the Transfer Agent (see below).
General Information about the
Wayside Land Company
The Wayside Rod & Gun Club was formed by several hunters and target shooters in the 1920s or 1930s and subsequently incorporated in the late 1960s as a land development and investment company (the Wayside Land Company). The target shooting group separated to a stand-alone corporation which exists today as the Wayside Skeet Club and it is the only occupant of the properties owned by the land company.
Forty two men were the original land purchasers and incorporators. In 1982 several of those shareholders wanted to divest themselves of WLC shares so the shares they owed were offered for sale to individuals of the then current members of the Wayside Skeet Club. About thirty skeet shooters agreed to purchase the shares that were for sale.
Between 1982 and the present (January 2014), the number of individual WLC shareholders has been reduced to 22 as the result of the sale, gift or inheritance of the original 42 shares. One and a partial share have recently been purchased by the corporation and were retired, leaving 40.1669 current outstanding shares.
A formal agreement, dated May 21, 1970 signed by the then-current shareholders, restricts the transfer of ownership of shares by gift or sale in that, all sales must be first offered to the corporation and to the current shareholders before any share may be sold to a person not currently an owner, i.e., the corporation and current owners have "right of first refusal" regarding all sales of stock in the corporation.
The Bonifide gifting of a share or part is allowed when the recipient is a spouse or a direct descendent (e.g., child, grandchild, great-grandchild, etc.) of the gifting shareowner provided that appropiate notice and documentation is given to the corporation prior to the actual gift. Non-qualifying "gifts" are considered and treated as sales.
Several current shareholders have established a standing offer to purchase shares or portions of shares at the stated rate of $3,000.00 per share (prorated).
For more details about the GIFT, INHERITANCE or SALE of shares, please contact the Transfer Agent, Bill Walton, who's contact information is listed below.
Directors and Officers:
Frank Decolator, Director, Corporate Agent and President
Jim Curley, Jr., Director and Vice President
John Dermond, Director and Secretary
2393 Sycamore Street, Manasquan, N. J. 08736
RES: 732-528-6514 - CELL: 732-239-2463
Scoop610 <AT> aol.com
Bill Walton, Director, Transfer Agent and Treasurer
Wayside Land Company
c/o Bill Walton
28 Snowberry Lane
Orient, ME 04471-4320
RES: 207-448-7758 - CELL: 207-538-5459
WaysideLandCo <AT> aol.com
Tom Giblon, Director
The official Address of Record for the corporation, as listed with the Bureau of Corporations of the State of New Jersey is: 1453 Pawnee Drive, North Brunswick, N. J. 08902 but general correspondence should be sent to the Secretary ... and matters pertaining the transfer of share ownership should be directed to the Transfer Agent (see above).
The e-mail addresses shown on this page are not clickable...you must type or copy and paste the screen name and domain data directly into your e-mail program. In addition, this web page observes the convention of replacing the @ symbol in e-mail addresses shown here with the four-keystroke string <AT> . If you wish to send an e-mail to one of our Officers, please replace the four-keystroke string <AT> with @ in your mail address box and use no spaces. We do this in an attempt to block SPAMMERS who use automated web crawlers to collect e-addresses from the internet.
© 2011 (W¶W) - William P. Walton, III - All Rights Reserved