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Patronage Refunds: Rural Telephone Bank's and Other Cooperatives' Methods to Refund Earnings

AFMD-89-27 Published: Dec 30, 1988. Publicly Released: Dec 30, 1988.
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Highlights

In response to a congressional request, GAO determined whether the Rural Electrification Act specified a method that the Rural Telephone Bank (RTB) should use to refund any earnings to its class B stockholders.

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Accounting proceduresAgricultural cooperativesCapitalFederal corporationsFinancial managementStatutory lawStocks (securities)Rural electrificationShareholdersDividends