(1) DEFINITION. In this section, “old contributions” means all contributions reflected in the required records of a cooperative immediately before the time the cooperative accepts a new contribution. (2) RESTATEMENT REQUIRED. If a cooperative accepts a new contribution, the board shall restate the value of all old contributions. (3) RESTATEMENT METHOD FOR SAME SERIES OR CLASS. (a) Unless otherwise provided in the articles or bylaws, the board shall restate the value of old contributions of the same series or class of the new contribution by following all of the following steps in numerical order: 1. State the value accorded to the new contribution under s. 193.701 (3) (a). 2. Determine what the total value will be, after the restatement under this subsection, of all contributions of same series or class as the new contribution. 3. Subtract the value stated under subd. 1. from the value determined under subd. 2., yielding the total value, after the restatement under this subsection, of all the old contributions of the particular series or class. 4. Subtract the value, as reflected in the required records before the restatement under this subsection, of the old contributions from the value determined under subd. 3., yielding the value to be allocated among and added to the old contributions of the particular series or class. 5. Allocate the value determined under subd. 4. proportionally among the old contributions of the particular series or class, add the allocated values to the values of those old contributions, and change the required records accordingly. (b) The values determined under par. (a) 4. and allocated and added under par. (a) 5. may be positive, negative, or zero. (4) RESTATEMENT METHOD FOR DIFFERENT SERIES OR CLASS. Unless otherwise provided in the articles or bylaws, the board shall restate the value of old contributions of a series or class different from that of the new contribution by following all of the following steps in alphanumerical order: (a) Determine the percentage by which any restatement under sub. (3) has changed the total contribution value reflected in the required records for the series or class of the new contribution. (b) As to each old contribution of a different series or class, change the value reflected in the required records by the percentage determined under par. (a). The percentage determined under par. (a) may be positive, negative, or zero. (5) AGGREGATING NEW CONTRIBUTIONS. If a cooperative accepts more than one new contribution of the same series or class at the same time, then for the purpose of the restatement required by this section the board may consider all such new contributions as if they were a single contribution.
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