Member Update to President Letter – 12 July 2012
Dear Members,
The President’s Letter dated July 12th, 2012 stated “If you sell your property you still maintain ownership of the AGRIS Solar Shares.”
Upon further review with the Board of Directors and the Co-operative’s legal counsel it has been determined that this statement was incorrect. In fact, if a Member sells the property upon which the original microFIT contract was awarded the Member must transfer his membership to the new owner of the property.
This reflects the original structure of the Co-op and is required to meet our obligations to maintain the level of Member Business and therefore our status as Co-operative Corporation as defined by the Co-operative Corporations Act.
If you have any question please do not hesitate to contact the Management Team at 1-877-AGRIS 01.
Yours very truly,
David Malott
President, AGRIS Solar Co-operative Board of Directors