If the crowd funding is not successful and no other funds are obtained to purchase the ranch property what happens to the $20,000 paid for the “Bee shares”?
No shareholder has paid for bees. They have paid for a share for land and water. Granted, a portion of the over all budget was used to purchase bees, none of which had to be distributed to the individual shareholders, though all of the shareholders should benefit from this acquisition. If you will review the membership agreement you will see that the bees remain with the land until the elements of the contract have been fulfilled. After the home, barn, etc. have been built, then the bees are awarded to the shareholder to sell or hold on to. If the shareholder took the $20,000 for the honey purchase and never did anything to the property then the share was forfeited back to the cooperative. They paid $20k and received $20k, no harm no foul.