How are capital credits handled upon dissolution of marriage or death of a member?

Capital credits will remain in the name(s) of the original member(s) until Southern Indiana Power is notified by a spouse, relative, or other legal representative that the account may be re-assigned to another person or transferred to an estate. Documentation will be required for Southern Indiana Power to complete a request for capital credits to be re-assigned from the original member(s):

In the case of a member who is deceased:

• A death certificate or other sufficient proof of death will be required
• A Will or a Letter of Administration that designates a legal representative of the estate
• An Affidavit for payment of capital credits (provided by the cooperative)
• Photo ID of the representative (to include driver’s license, passport, or other government-issued ID)

For a member who is not deceased but needs personal appointment or representative:

• Guardianship papers
• Certified Power of Attorney papers
• Photo ID of the representative (to include driver’s license, passport, or other government-issued ID)

In the case of dissolution of marriage, the Cooperative must receive appropriate legal documentation as proof of the dissolution of marriage between spouses in order to make any changes in the ownership of the capital credits. Otherwise, if the capital credits were associated with a joint membership, they will remain in both members’ names. If the capital credits were associated with a single membership, the capital credits will remain in the original member’s name.