Se-Ma-No Electric is a non-profit corporation. No stock is sold or dividends declared, any excess revenue over operating expenses (net margins) belong to the members who provided that margin by purchasing electricity. Every year this is credited to the capital account of each member in porportion to their purchases. When the financial position of the Cooperative permits, these credits are refunded. Refunds are regulated by terms of the mortgage held by the Rural Utility Service.
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