We had a member withdraw who did not cash her withdrawal
check. The funds were returned to our brokerage account
after a year. How do we record this in Bivio? Is this
something for a suspense account?

The former member has since moved across the country and we
are having a hard time contacting her. In the meantime, we
are earning interest on her funds in our brokerage account.

We know she did receive the check when we originally issued
it. I guess she just forgot to cash it. What are the
responsibilities of our club in a situation like this?

Any advice is greatly appreciated.

Thanks,
Ernie

Hi Ernie,

Keeping the money isn't an option, I'm afraid! <G> The best thing to do is
contact your Secretary of State for instructions on how and where to mail
funds on her behalf. The money will be kept in a "lost and found" account,
and if she ever goes in search of monies owed to her (club funds, interest
from a closed bank account, refunds from the state, etc.) the state will
send her the money.

This way, it'll be off your books.

Lynn Ostrem, President
Crow River Investment Club
www.bivio.com/crowriver

Thanks for the advice. We are trying to track her down and
hope to get an e-mail address soon from her parents.

Ernie Habicht



Garbagecop wrote:
> Hi Ernie,
>
> Keeping the money isn't an option, I'm afraid! <G> The best thing to do is
> contact your Secretary of State for instructions on how and where to mail
> funds on her behalf. The money will be kept in a "lost and found" account,
> and if she ever goes in search of monies owed to her (club funds, interest
> from a closed bank account, refunds from the state, etc.) the state will
> send her the money.
>
> This way, it'll be off your books.
>
> Lynn Ostrem, President
> Crow River Investment Club
> www.bivio.com/crowriver