Topic: distributions

• Allocate patronage and make distributions guides

  How § 308B.725 directs net income to patron members on the basis of patronage, in what forms, and what IRS sources say members report.

• What is patronage in a cooperative? faq

  Patronage is business, transactions or services done for or with the cooperative, as the cooperative defines it; federal patronage-dividend tax rules are separate.

• § 308B.721 Allocations And Distributions To Members statute

  Bylaws must set how profits, losses and distributions are split between patron interests (collectively) and other interests; patrons collectively must get at least 50 percent, or 15 percent if specially authorized.

• § 308B.725 Allocations And Distributions To Patron Members statute

  Rules for paying out net income to patron members: reserves, a cap of five percent for promoting cooperatives, distribution on the basis of patronage, annual payment, and allowed forms such as cash or capital credits.

• § 308B.735 Distribution Of Unclaimed Property statute

  A cooperative may distribute unclaimed property specified in its unclaimed-property report to a tax-exempt entity instead of paying or delivering that property to the state. The section does not waive reporting; the owner's right ends on disbursement with the required notice.

• § 308B.905 Winding Up statute

  After the notice of intent to dissolve is filed, the board must collect what is owed, pay debts by priority, may sell assets without a member vote, and distributes what remains to members and former members.