THERE ARE OTHERS

In  1995 Garkane Energy administrative personnel sought a way to capture  and use property awarded to members as capital credits that accrued from  margins. This was accomplished when administrators colluded with  willing Utah legislators and passed legislation allowing administrations  of electrical and telephone cooperatives to retain and use unclaimed  property for their own use. (See fact #2 above.) Federal law (IRS code  501-c-12) requires nonprofit businesses to return margins to members and Garkane administrators tell us that “… at the end of any accounting  year, if there is money left over after all operational costs have been  paid, the excess (labeled a “margin”) is allocated back to the members  who were served in that year. The “allocation” (capital credit) is a  promise that the co-op will pay back the member’s portion in the  future.” (See fact #16 above.) Unclaimed property accrues from a failure  to return margins to members.