§ 17-20-1301 — Patronage capital contributions, allocations and refunds; deposits and advance payments

(a) Cooperative utilities organized under this act may
make distributions to members in the form of patronage capital
contributions, allocations and refunds. The bylaws shall
provide for patronage capital contributions, allocations and
refunds. Refunds may be made only at the discretion of the
board of directors.
(b) Any patronage capital that has been retired, returned,
refunded or tendered to a member of a cooperative that has
remained unclaimed by the person appearing on the records of the
cooperative entitled thereto for more than two (2) years, shall
be determined to be unclaimed. Notwithstanding any other
provision of law, including provisions pertaining to unclaimed
property, unclaimed patronage capital shall be used by the
cooperative for the benefit of the general membership of the
cooperative.
(c) Notwithstanding W.S. 34-24-109 and any other provision
of law, any deposit or advance payment that has been refunded,
including any interest thereon, that has not been claimed by the
member appearing on the records of the cooperative for more than
five (5) years and for which the cooperative has made good faith
efforts to deliver to the member shall be determined to be
unclaimed. Notwithstanding any other provision of law, including
provisions pertaining to unclaimed property, unclaimed refunds
for deposits or advance payments shall be used by the
cooperative utility for the benefit of the general membership of
the cooperative. The right of an owner to unclaimed refunds for
deposits or advance payments held by a cooperative utility is
extinguished when the unclaimed refunds are used by the
cooperative utility for the benefit of its general membership in
accordance with this subsection. Nothing in this subsection
precludes a cooperative utility from refunding subsequently
claimed funds at the cooperative utility's discretion.