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Update on Patronage Capital Cases, New Case Filed in North Carolina

A new patronage capital case has been filed in North Carolina – the first known patronage capital case of this kind to be filed in the state. The class (consisting of the estates of deceased members of South River Electric Membership Corp.) claims that t
March 10, 2011

A new patronage capital case has been filed in North Carolina – the first known patronage capital case of this kind to be filed in the state. The class (consisting of the estates of deceased members of South River Electric Membership Corp.) claims that the coop discounted accumulated capital credits of the deceased members at retirement and converted them to permanent equity by the coop. At issue is more than $1.5 million of the deceased class members' alleged property. See Sutherland’s Legal Alert, which has a summary of this case as well as other pending patronage capital cases.

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Elizabeth S. Cha, Associate
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