Cooperative Network hails Assembly Action
on Cooperative Legislation
MADISON, Wis. (October 20, 2011) – The State Assembly voted 96-0 on October 18 in support of legislation that will restore an exemption for cooperatives from having to file with the Department of Financial Institutions (DFI) if they are going to issue securities such as preferred stock. Assembly Bill 228 is authored by Rep. Al Ott (R-Forest Junction) and enjoys broad bipartisan co-sponsorship.
“Restoring this exemption will enable new and existing cooperative businesses to access capital that is often the difference between success and failure, without the significant legal expense needed to register their security with the DFI,” said Bill Oemichen, president and CEO of Cooperative Network. “We thank the Assembly members who voted unanimously in support of this legislation, and look forward to positive consideration in the Senate.”
|
