NEED HELP WITH TRANSFER OF STOCKS TO WITHDRAWING PARTNER

Hey Nancy! It's easier than you think. Take a deep breath and do the
following:

On the Bivio homepage, use the search box in the top right corner to search
for "member withdrawal". There are several good articles and posts that
will help you understand the process.

Then, go to the Accounting|Member page, choose the departing member, and
click on Withdraw. Take your time moving through the simple instructions.
You can abort at anytime without consequence. You can also delete the
withdrawal and start all over.

The program will do all the work for you. Just supply it with the date of
withdrawal, the account where the leftover monies will come from, and the
company (and number of shares) you intend to transfer.

Write back if you have any problems!

Lynn Ostrem, VP
garbagecop@earthlink.net
Crow River Investment Club
www.bivio.com/crowriver


> NEED HELP WITH TRANSFER OF STOCKS TO WITHDRAWING PARTNER

And, of course, be sure you select the valuation date that accords with your
PA, and if you are transferring stock as of the price on that date, do it
promptly. Very promptly. Gene Rooks, Space Coast Chapter

Good point, Gene.

One thing people don't realize is that you don't have to transfer stock and
write the additional check at the same time.

For example, if you give notice to my club that you are withdrawing today,
it will be deemed accepted at the next regularly scheduled meeting. The
value of the departing members' account will be based on the member status
report for the FOLLOWING meeting. That way, no one can time their
departure. So, if the resignation is accepted at the April meeting, the
value of their account will be based on the Member Status report for the May
meeting. Unless your partnership agreement stipulates otherwise, there's
simply no reason not transfer the stock right away.

Our valuation day is the Friday (Close) preceeding our Tuesday meeting.
Once the value has been established, our treasurer usually runs the
withdrawal report over the weekend, cuts the check (provided the funds are
there) and then transfers the stock on Monday. He reports it to us at the
meeting on Tuesday.

But once that value has been established, it doesn't change--even though
stock prices move up and down. That's why you want to go ahead and transfer
the stock right away. If we don't have the funds to cover the check before
the meeting, then he will wait for dues to be paid first. That cash balance
doesn't change.

Let's say you owe a departing member $384 dollars. ABC Company shares are
currently trading at $30/share. That would equate to 12.8 shares. To be
safe, I would transfer 11 shares, then wait for the confirmation so you know
the exact value of that transfer. (Firstrade does not charge transfer fees;
some do). After the transfer, you would owe a small cash balance of $54.
That amount won't change, whether you write it today, or wait until you have
the cash funds from the meeting.

The program provides a very detailed Withdrawal report. It's on the bottom
of the Reports page (where you find your Valuation Statement).

Lynn Ostrem, President
garbagecop@earthlink.net
Crow River Investment Club
www.bivio.com/crowriver