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Discounting of Capital Credits of Deceased Members Upheld in North Carolina

On August 8, 2012, the North Carolina Business Court held that electric cooperatives may lawfully discount capital credits of deceased members when they are retired early.  The court also held that electric cooperatives do not owe a fiduciary duty to tho
August 16, 2012

On August 8, 2012, the North Carolina Business Court held that electric cooperatives may lawfully discount capital credits of deceased members when they are retired early.  The court also held that electric cooperatives do not owe a fiduciary duty to those members with respect to the timing and procedures for retiring capital credits.  Read the full Sutherland Legal Alert.

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