Golden Oak Cooperative members who have been purchasing their eligible insurance from one of Golden Oak’s endorsed programs are eligible to participate in the Equity Sharing program. The ten most frequently asked questions and the answers are listed below.

Any California Licensed Landscape Contractor (C-27 including sub-classifications) who purchases their General Liability, Business Auto, Umbrella, Workers Compensation, and/or Personal Lines (Homeowner’s, Personal Auto, etc.) insurance through a program endorsed by Golden Oak Cooperative Corporation.

Gross eligible premium paid by employer member divided by total premium (all eligible vested premium for qualified members) times eligible equity (GEP&#xF7TEP X EE) = Equity Share.

After 5 consecutive years of contributing eligible premium an employer member will be eligible to share in equity. Eligible premium will be accumulated retro-active to 1997 and a member must complete 5 consecutive years in an eligible program. Once a member reaches the 5-year milestone, then all ensuing eligible premiums count 100% toward their equity share, as well as the first four years of premium.

An equity share may be requested upon retirement from the landscape industry, either by selling the business, retiring, death or otherwise alienating oneself from the industry. A person may not simply quit the insurance program and be eligible for the “equity share”.

Equity Shares value is calculated on or about June 30th of the year following the qualifying year.

An Equity Share is paid out beginning six months after the request for payout and may at the Board of Directors discretion be paid over a three (3) year period.

An Equity Share may only be paid to the member as identified on the rolls of Golden Oak Cooperative Corporation and participating in the insurance programs that qualify the member. Should the member wish to assign the Equity Share rights to an individual other than the member, a notarized statement must be sent to Golden Oak Cooperative Corporation notifying the Cooperative of this assignment. The Directors of Golden Oak Cooperative Corporation may attach and redeem members earned equity share to satisfy outstanding debt owed to LCIS, Birch Financial, Inc. or any other affiliate of Golden Oak Cooperative Corporation.

Should an Equity Share not be claimed it would be held in reserve until it is claimed. The disadvantage of not claiming in the year of retirement is that the value of the share may be diluted as the total premium grows. Any member whose equity account is inactive for a period of at least seven years will be required to notify Golden oak in writing that they are still in business or their equity share will be terminated

General Liability, Business Auto, Umbrella, Workers Compensation, and/or Personal Lines (Homeowner’s, Personal Auto, etc.) insurance, (or any other programs to be added as Directors see fit), purchased through a program endorsed by Golden Oak Cooperative Corporation.

The value of net assets are determined by the Board of Directors who may at times solicit services of outside consultants. This determination will be at the sole discretion of the Board of Directors.