General Retirements
Blackfoot Telephone Cooperative's Board of Trustees reviews the financial status of the company on a yearly basis and decides if the company can pay out member capital credits. If the Board of Trustees decides the company is in a financial position to make a pay out, a dollar amount is determined. The company will then establish a percentage earned by all members who fall within the criteria that the company has determined.
Estate Retirements
There are two ways members are paid the total amount of their capital credit account.
- A Member's Death – When a Blackfoot Telephone Cooperative member passes away the estate or legal representative may file for full retirement of the member's capital credit account. To submit a request for full payment of a member's a copy of the member's death certificate is required. Authorization forms are then mailed back to the estate or legal representative for completion. Once the completed forms have been received by the company, the request is reviewed by the Board of Trustees. Once the request is approved by the Board of Trustees a check is issued.
- Business Dissolution – To claim capital credits when a business dissolves, the business owners file the dissolution with the State of Montana and provide Blackfoot Telephone Cooperative with the dissolution papers. If the business is a sole proprietorship and the membership is under an individual's name, any distribution of capital credits will be made as a general retirement.
| Last update: 02:37 PM Wednesday, December 13, 2006 | Print |
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