Shareholders Handbook Now Available

  • July 7, 2012

    A shareholders handbook has been released by the Newport Shareholders Association. This 24-page handbook is filled with useful information for all shareholders, new and old alike, as well as for potential share purchasers.

    The handbook is divided into six sections. The first is an explanation of cooperatives generally. This section should be especially useful for first-time shareholders who may not understand the legal structure of cooperatives and their management. Next is a section that describes the specific history of the Newport and its conversion to a cooperative. The third section of the handbook identifies all of the people involved in the management of, and the provision of services at, the Newport. The next part explains who should be contacted for various shareholder needs. A basic tenent of cooperative living is the necessity for all shareholders to live up to their obligations, for the failure of some to do so threatens the finacial security of others. With that in mind, the fifth section reviews the vairous obligations of shareholders. Finally, a sixth part outlines all the services that are available for Newport shareholders.

    The Newport Apartments Shareholder Handbook may be downloaded and shared with others. This handbook is the first edition of what is expected to be a regularly-revised document. Comments, corrections, and suggestions from shareholders are welcomed.

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