To receive water service from the company, a minimum of one (1) share of stock is required for each meter. The share of stock is assigned to a specific property (i.e., “appurtenant to”) and will remain assigned to that property as long as all bills are paid. Additional stocks can be purchased, but they must also be assigned to that same property in order to take advantage of the lower billing rates offered in the higher Tier Billing Structure (see Rates & Fees page). Should any water bill become delinquent (i.e., unpaid for more than 30 days), all appurtenant shares of stock may be sold or forfeited back to the company, and the water service will be discontinued at the service address.
To re-establish the water service, a new share of stock must be purchased at its current price, and all unpaid outstanding balances must be paid in full, along with a charge of $100.00 for restoring service.
Please note that DWC stock has no speculative trading value. For example, DWC Company stock is not bought and sold on the New York Stock Exchange. Company stock shares entitle the owner to two rights: water service and voting for the company directors at the annual shareholders’ meeting.
To receive water service for new construction, a New Water Service Application must be submitted, along with the administration fee ($250.00 Residential, and $1,500.00 Commercial). Based on each project, minimum requirements for connecting to the Devore Water Company distribution system will be established. For example, should the proposed water service be in an area where no water pipelines (water mains) exist, the shareholder will be required to pay for the installation of new pipelines necessary to provide water service to the identified service location.