The following Answers are provided as a result of often asked questions by our members.
Question: Can I sell my membership units to anyone I choose?
Answer: Unless the person you are selling to is an immediate relative, the answer is NO. IRS regulations require that arms length transactions go through a Qualified Matching Service. So if you would like to sell your GGC Units outside of your immediate family, you must contact FNC Ag Stock, LLC (701-780-2828) and they will explain the listing process.
Question: Why do I need to complete delivery (pay agency fee or delivery bushels) prior to transferring my Units?
Answer: Board policy requires that deliveries for the year be completed prior to the transfer being approved. For Method A pool participants, bushels committed must be delivered to the plant before a transfer is approved. For Method B pool participants, the Agency fee of $0.02/bushel must be paid so that GGC can access and deliver those bushels on the member’s behalf before a transfer is approved.
Question: How do I know what my Membership Units are worth?
Answer: Golden Growers does not place a value on Units. When asked, we refer members to FNC Ag Stock’s website (www.fncagstock.com) to review recent sales. It is important to know that very few sales occur during any year.
Question: I want to change delivery from Method A to B (or Method B to A) during the year? Is this possible?
Answer: No. We provide members an opportunity each fall to change their delivery method for the coming year. Once the new year starts, members are committed to fulfill their delivery using the method selected.