Equity Withdrawal Form
February 11, 2020

Under the by-laws of South Country Co-op Limited, there are three options available for members to withdraw their equity:

1. IF THE MEMBER PASSES AWAY:

In the event of the death of a member, the Co-operative will pay all equity to the member’s estate. If a surviving spouse or a member of the family wishes to retain the same Co-op number, this should be indicated on the Application for Withdrawal, and $5.00 will be retained in order to keep the membership active. If a joint member passes away, the membership must be transferred into a sole membership of the surviving member by filling out the Equity Transfer portion of the form.

2. WHEN THE MEMBER REACHES THE AGE OF 65:

Application for repayment can be made any time after a member reaches the age of 65. Joint member equity is payable only when the younger individual in the membership reaches the age of 65. Equity of $200.00 will be retained in order to keep the membership active.

3. IF A MEMBER MOVES OUT OF THE TRADING AREA:

Application for withdrawal can be made if a member has established a permanent residence outside of the South Country Co-op trading area. In accordance with the by-laws, these application payouts are issued 90 days following board approval. The full amount of equity is paid out, resulting in the membership being cancelled.

If you qualify for one of the options above, and you wish to cash in your South Country Co-op equity, please download and fill out the attached withdrawal form. If requesting an estate withdrawal, please ensure a Bond of Indemnity is also completed and included. When all forms are completed and required documentation compiled, you can submit using one of the following:

• Email to: equity@sccoop.ca
• Mail to:

South Country Co-op Limited
969 – 16 Street SW
Medicine Hat, AB T1A 4X5

• Fax to: 403-528-2205 (Attn: Equity)

Please email equity@sccoop.ca or call 403-528-6600 if you have any questions.


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