Bonds

Do I have to buy a bond when it’s offered?

Temporary, or season to season membership, continues until the member’s name comes up for a bond. Temporary members remain on a bond waiting list in the same order in which they waited for their initial membership.  Time waiting for a bond depends on how many bonds get turned in each year, and how many people are on the waiting list. Recent history has been 3 to 4 years of temporary membership before a bond is available. Once a bond is offered, it must be purchased or membership is terminated.

Does my bond earn interest?

When you turn in your  bond, you will receive whatever you paid for your  bond.  Interest does not accrue.

Can I give my bond to someone else?

The bond is an agreement between the bondholder and the pool association.  It cannot be transferred to another person.

How can I turn in my bond? What if I’ve lost it?

If you have your bond, sign the back as indicated and return to Palisades Swimming Pool Association, PO Box 636, Glen Echo, MD 20812.  If you don’t have your bond, write a letter saying you want to redeem it.  In either case, if the bond was issued in two names, both parties must sign the bond or letter.

We’ve divorced, how can I get my spouse’s name off the membership?

One spouse cannot remove the other unilaterally.  The party being removed must agree. This is easiest accomplished with a note to the pool, signed by the party to be removed.  If both spouses want to continue under separate memberships, please call or email the pool membership chair for options.

I’m selling my house. How can my buyers get my bond?

If you’re selling your house, wait until you have a buyer and an estimated closing date. Return your bond to the pool (or write a letter, if you’ve lost your bond) signed by the bond owner(s). Enclose a note that includes the name of the buyer and when they will take possession, and your new address. You will be refunded whatever you paid for your bond, and we will send the buyers an invitation to join the pool at the prevailing bond rate.  Please note that memberships can not change status during the summer season when the pool is open.