Retirement of Equity

Request to Retire Equities

If you are interested in talking to someone about a request to retire the equity of a deceased patron, please fill out the following form.

Our accounting team will then contact you with the required information needed to consider closing the account.

If the request is approved by the Board, the payment is usually made within 30-45 days of the receipt of all the necessary documentation.

Please be advised that once the equities of any estate have been paid out, there will be no further patronage dividends issued to that estate.

Call 507-842-2001 if you have any questions.

 

Adobestock Equity

Equity Inquiry

If you are an owner, heir, or personal representative of a deceased individual or dissolved patron's business, please fill out the information request below so we can begin updating our records and redeeming the patron’s equity. Additional information and documentation will be required to complete the redemption process. We will reach out to discuss the requirements for equity redemption within five business days.

Your Name
Account Holder is:
Your Address
I prefer to be contacted by:
Name
New Vision Coop By-laws | Article VIII | Unclaimed Property

Section 1. Unclaimed Property.  As provided by Minnesota Statute this Cooperative may distribute any unclaimed property which has been reported as unclaimed property to the Commissioner of Commerce of the State of Minnesota, to a corporation or organization which is exempt from taxation under Minnesota Statutes.  The rights of an owner to unclaimed property shall be extinguished upon the disbursement of the property to a tax-exempt organization in accordance with Minnesota law.

Section 2.  No Address/Location.  Whenever the Cooperative determines that it does not have a current address or location for a member who was previously allocated equity of the Cooperative, or whenever a member fails to main a current address or location with the Cooperative, then, in that case, and before the previously allocated equity ever becomes payable, that allocated equity will be deemed unclaimed property.

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