All,

It has been 8 years since I have done a withdrawal of a
member and now we have three. In addition the last time, I
did anything other than a full cash withdrawal was 2004
(that was for a total of $700). The amounts are significant,
over $20k. It will be cash and stock. We know to transfer
appreciated stock. We have sold our losers so we all get a
capital loss. We are following the PA (which was one from
the NAIC Handbook in 2001). We accepted the withdrawal at
the August Meeting. We set the valuation at our September
meeting. We have 10 days to transfer the funds according to
our PA. We have selected the stocks to transfer and the
correct amount of cash. I have gotten the brokerage accounts
of the withdrawing members and confirmed with our brokerage.
Here are the confusing points. First question: Do we
transfer the stock first and then at a later date the cash
(we have to sell a few stocks to get the right amount of
cash). And then the cash? Second question: And a simple one
that still escapes me. Since there will be some time from
the valuation date (Friday past) and the transfer date
(sometime this week) does the total amount we transfer
remain fixed (IOW when the stocks fluctuate from Friday to
the transfer date does the amount of cash adjust up or down
based on the stock price at the date of transfer) Or do the
units stay fixed and the amount they eventually gets changed
based on what the stock market does between the time of the
valuation and the time of the transfer. Asking for a friend.
:) :)

John & Ira,

Thanks. I thought that was the case. In fact, another
partner found that language in a google search to the Space
Coast Chapter site. But I just wanted to make sure that we
are doing this correctly. I want to make sure that none of
the club members that are withdrawing will have any reason
to question what we are doing. And like I said it has been
12 twelve years since I did a withdrawal with stock and that
was 18 shares of HD.

Much appreciated.