If you’re a member of Co-Mo Electric Cooperative, you’re also an owner! When we have margins above the cost of doing business at the end of the year, the Board of Directors allocates that money back to the membership based on their usage and length of time with Co-Mo. Then, at some future date, the Board can retire those credits and authorize their return to the membership. Sometimes, in the years between when the money was allocated and when those credits were retired, a member leaves the system and fails to give us a forwarding address or contact information. After attempting to locate these people, their credits become unclaimed. Co-Mo bylaws dictate that we publish the unclaimed capital credits list once a year.
Any Patronage Capital remaining unclaimed after a two-year period and following such period, remaining unclaimed 60 days after publication of notice of names, shall be forfeited and considered to be an irrevocable assignment to the cooperative and shall be allocated on a prorata basis.