automatic share expiry date

[asch]

My father bought in 1967 1 share for $300 from Riverside Swimming Club, Shreveport, Louisiana. He died in 1983.
I found the share in 1990 and asked the Club if I could cash it.
I was answered by them that it was too late and the share validity had expired.
Is this correct ?.
Thank you for your assistance.

 

[ALawyer]

Shares in normal business corporations do not "expire" -- they can escheat to the state after X years, and you often can get them back from the state. But most private clubs are NOT normal business corporations and may require ongoing membership dues payments. And LA's laws vary from those in the other 49 states. You'd need an LA professional to advise you.