What does it mean to be a Riverview Stockholder?
And how does an active RVIA member become one?

This question comes up now and again, and below are details about this:

A. Who can be a stockholder? A stockholder is a person whom Riverview Improvement Association recognizes and appreciates his, her, or they’s support and participation in our neighborhood association. A stockholder lives in the bounds of Riverview, and they have a true interest in the area and people around them.

B. The next step is getting nominated by other stockholder(s) at an Annual Stockholders Meeting typically held in December. If approved, the person(s) is invited, via a letter, to purchase a share of stock in the Association for $10.00. You’ll be issued an actual certificate of One Share of Capital Stock of the Association. The nominee must accept (or decline) and buy one share of stock to become a stockholder.

C. “Once a stockholder, always a stockholder”, This is true unless circumstances exist when the holder no longer wishes to participate, and at that time returns the One Share to RVIA. Members can be asked by RVIA to turn in their stock if we haven’t seen or heard from you in while (without due reason).

(You can remain a Stockholder if you move away from the area or even Rhode Island – as long as you remain active & pay your annual dues).

D. As a stockholder, you have a Vote at Annual Meetings. Stockholders vote about Bylaw amendments, budget, election of officers and other major issues concerning the Association. Stockholders help steer the direction of RVIA. You have an obligation to pay your annual dues ($20 per household as of 2023), attend meetings & support the Association.

Above: Examples of RVIA Stock Certificates
Left: Circa 1903 Certificate   Right: A new style Certificate, Circa 2008

Note: The River View Improvement Association, hence “RVIA”, was established in 1903, by Schubel Cady, when he built a building at the corner of Mill Cove Road & Wentworth Ave., and it was referred to as “The Casino”. Refer to our “History” topic to learn more about the Casino, and what happened to it.

Excerpts from the RVIA Bylaws, adopted 12/14/14, pertaining to Stockholders.

STOCK related excerpts:

Article III: The capital stock of the Association shall consist of Five Hundred (500) shares of the par value of Ten Dollars ($10.00) per share.

Article IV: All sales, and, or transfer of both treasury and outstanding stock shall be made only by the Association with the approval of the Stockholders. No Stockholder shall sell or transfer his or her stock.

MEMBERSHIP related excerpts:

Article V: Any person holding one or more shares of Capital Stock shall be a Stockholder of the Association and shall be entitled to one vote at any meeting of the Association, and shall without regard, however, to the number of stocks held.

MEETINGS related excerpts:

Article VIII:
Sec. 1. Special meetings maybe called by the President whenever he or she shall deem it expedient, and it shall be his or her duty to call such a meeting upon a written or e-mail request of five (5) Stockholders.

Sec. 2. Five (5) Stockholders shall constitute a quorum of Stockholders and a quorum of members, it being understood that no vote of the members shall be valid for any measure unless at least five (5) disinterested Stockholders have cast their votes on such measure. All decisions of the Stockholders and members shall be made by majority vote of those present. All procedural questions not resolved by formal Articles herein shall be determined in accordance with “Roberts Rules of Order Revised”.

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