Patronage Stock/Equity Payback (Stock Credits)

Overview

This option allows users to pay back or adjust patron stock, stock credits **, and equity.

** Stock Credits are not active stock certificates. They are simply a patron balance that represents the amount of credit the patron has toward the next share of stock. Stock credit pay back is not based on transaction date. Instead it is based on the patron having eligible patronage transactions, regardless of transaction date, and name/address name id type, miscellaneous reporting codes, and user defined field #1 values matching selection criteria.

Eligible Patronage Transactions

Pay back / adjustment process evaluates eligible patronage transactions against designated selection criteria.

Eligible patronage transactions have:

Transaction Location - Equal to patronage location identified in Setup Information - Stock Class Information. If patronage location is not identified, then eligible transaction are selected based on AGRIS session location.

and
Transaction Types - Equal to Patronage Refund (1), Stock Sold (2), Stock/Equity Transfer (5), or Source Allocation (6).

and
Distribution Types - Equal to Stock Transaction (1), Stock Credit (2), or Stock/Equity Payback (7).

and
Active Certificate/Equity Flag - Equal to a "Y" for Stock Transaction (1) and Stock/Equity Payback (7) distribution types only.

Selection Criteria

Patron, Name Address, and Equity Source Code Range

** Stock Credit pay back process does not consider Equity Source Code to determine if patron is eligible to receive stock credit pay back.

Name Address and Transaction Date Range

** Stock Credit pay back process only considers Name/Address user defined field #1 to determine if patron is eligible to receive stock credit pay back.

Stock Class Selection

** Pay Back Stock Credits flag determines which stock class's stock credit balance is paid back.