In a new ruling, the Service considered the period of historical patronage business that should be used to calculate the gain on a liquidation sale.
Coop was a cooperative within the meaning of Subchapter T. It struggled in …
Cooperative
Potential Exit from Power Supply Cooperative
Dakota Energy has filed a lawsuit concerning its potential exit from a wholesale power supplier, East River Electric. Dakota Energy’s concern is that East River’s bylaws require, as a condition to withdrawal, satisfaction of contractual obligations to East River. And …
Farm Credit Administration Guidance on PPP for Small Businesses
The Farm Credit Administration has issued an updated informational memorandum for the purposes of providing Farm Credit System institutions with updated guidance on the Paycheck Protection Program. Follow this link for the memorandum:
The memorandum explains,
…Does the
USDA Reports on Farm Supplies Sold by Co-ops
The USDA Rural Development Division and Cooperative Services Branch of the US Department of Agriculture reported that in 2019 co-ops sold $53.2 billion in farm supplies including $18.9 billion in petroleum and energy products (36% of total net farm supplies …
Join the USDA Webinar for National Cooperative Month!
October is National Cooperative Month. The USDA is holding a webinar about the resources available to support cooperative development in rural America, including updates on cooperative development resources, an overview of RD funding opportunities, and information on ownership conversions. To …
Happy Cooperative Month from AHC!
October is Cooperative Month. AHC represents many cooperatives in the telecom, electric, and agricultural industries. So we join with others in celebrating our cooperative clients.
In honor of Cooperative Month, the U.S.D.A. has provided and re-published the following helpful guides
New Hampshire Electric Cooperative Broadband Internet
The New Hampshire Electric Cooperative, serving 115 mostly rural towns, is trying again to add delivering broadband internet to its core mission of delivering electricity. A special election has been called on the issue and would change the co-op’s bylaws.
…
Georgia Update: Automatic Renewals in Consumer Service Contracts
Georgia HB 1039 amends O.C.G.A. § 13-12-3 to provide additional protections for consumers who enter into service contracts containing lengthy automatic renewal provisions.
Pre-Existing Requirement: For service contracts with an initial term of twelve months or longer and an automatic …
Mississippi Cooperatives Win Big on Arbitration Clause in Bylaws
In a lawsuit brought against a nonprofit, member-owned electric cooperative corporation, the plaintiff-members (“Plaintiffs”) alleged that Southwest Mississippi Electric Cooperative (the “Cooperative”) unlawfully failed to return to its members patronage capital totaling more than $13M.[1] The trial court granted …
Bill Improves Protections for Directors and Officers of Nonprofits and Electric Cooperatives
Legislation SB 373 was introduced to the Georgia General Assembly in early February 2020. The bill was fashioned after legislation in 2018 that established gross negligence as the standard of care for director or officer actions and decisions in for-profit …