Member full withdrawal in stock transfer and cash

Mary Jane Bellaver on

How do I handle a full withdrawal that involves a transfer
of stock and the balance in cash. The stock valuation date
is used for the value of the stock, but the withdrawal date
value is quite different. Can I post the transaction in two
steps with the first step the stock transfer and the next
step being the balance owed after the transfer?

Rebecca Kruse on

The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.

Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.

Email us directly at support@bivio.com if you need more detail.

Becky Kruse

bivio

On Mon, Jun 8, 2026 at 12:51 PM Mary Jane Bellaver via bivio.com <user*21187500001@bivio.com> wrote:

How do I handle a full withdrawal that involves a transfer
of stock and the balance in cash. The stock valuation date
is used for the value of the stock, but the withdrawal date
value is quite different. Can I post the transaction in two
steps with the first step the stock transfer and the next
step being the balance owed after the transfer?

John W Ranby Trustee PGM Cariboo Trust on

Becky:

I would like to comment on a portion of your sentence "The
transaction date is the date the person ceases to be a
member of your club and does not correspond to the date the
shares were transferred or cash was paid."

My understanding is the "transaction date" is the date the
partnership agreement provides for establishing the value of
the partner's share in the partnership. For most partnership
agreements, this date is a month after the resignation is
accepted by the partnership.

I believe the more accurate interpretation of the situation
is that the departing member ceases to be a partner on the
date the resignation is accepted. When the resignation is
accepted, that person transitions from being a partner to
being a creditor. That person no longer is entitled to hold
office, to vote, nor to be held liable for debts of the
partnership incurred after that date. The valuation date is
only significant for the purpose of establishing the
magnitude of the debt owed the former partner and the value
of shares to be transferred; not when the person stops being
a partner.

Is my analysis correct, or have I miss understood something?
Asking to clarify for educational purposes.

Cheers, Jack

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