local coop divedend and voting share

Anonymous-0 · Mar 24, 2011

I have been patronizing the local Cenex since I was a kid. I started farming in 1987 and have sold grain and bought inputs in varying amounts every year. I receive a yearly patronage payment from them and have aquired stock in the coop so my question is can you be a member and receive dividends but not have a voting share? Evidently so!

paul · Mar 24, 2011

They may have a minimum, if you don't do X amount of dollars of business in this year you don't get to vote this year?

Otherwise, what are the bylaws?

--->Paul

IaGary · Mar 25, 2011

Yes you can receive dividends without the right to vote. Our local coop has Class A members and Class B members.

Class A members have to be involved in Production Ag. They must have bought a share in the company and have the right to vote. Plus they receive Patronage Dividends when the company distributes them.

Class B members are not involved in Production Ag. Have bought a share in the company and do not get to vote. But they do receive Patronage Dividends.

You can also purchase from the coop without purchasing any share and receive No voting or Patronage Dividends.

All depends how the bylaws are set up for your coop like Paul said.

Talk to the Manager or board members to find out what you have to do to receive a right to vote.

Gary

local coop divedend and voting share

Anonymous-0

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paul

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IaGary

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