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Reissuing Capital Credits under New Name(s)

MJM issues capital credit checks based on the last known information we have on file. If MJM has not received notification of a death, divorce, dissolved business, etc., the checks may need to be rewritten in a new name or names. 

In such cases, you will need to send certain documentation and forms to MJM to ensure we are reissuing a capital credit check to the right person(s), fairly and legally. Click on the buttons below to find out which documentation to send. After all documents are returned to us, a new check will be issued within 30 days.

Please mail paperwork to:
MJM Electric Cooperative
Attn: Capital Credits Dept
PO Box 80
Carlinville, IL 62626

FOR ALL SITUATIONS: Please be aware that MJM cannot reissue a check under a new name until the original check is voided or expired. If you have received a check in the mail from us that needs to be rewritten, please return it to us with the rest of the paperwork so that we may void it. Otherwise, the Cooperative must wait for the check's expiration date to pass, which may be 180 days after the issue date.

 
If one or both parties listed on the check are deceased

The following paperwork is required:

1. A photocopy of the Death Certificate(s) or other proof of the date of death, such as an obituary or funeral home paperwork

2. A photocopy of the member's will (only if the total allocation amount [current + future] is greater than $200. Call for amount.)

3. The Estate Affidavit form. Please choose the form that matches the check amount. (Call for amount.)
                Estate Affidavit ($199 and below)
                Estate Affidavit ($200 and up)
 

 

4. Trusts also require the Trust Affidavit form.

 
Please note: The checks must be divided among all legal heirs unless one of the following conditions is met:

 

  • The total allocation amount is less than $50
  • A will can be provided stating otherwise
  • Proof of death can be provided for the other heirs
  • We receive a signed note from the other heirs stating they do not wish to claim their share of the capital credits.

   

If the members listed on the check are divorced

- For those who divorced BEFORE ending their MJM service: The capital credits will go to the spouse who continued to live at the MJM-served residence after the divorce. Please send a copy of the divorce decree as proof of who stayed in the residence.

- For those who divorced AFTER ending their MJM service: The capital credits will be divided between the two ex-spouses. Please note that full ownership of the capital credits transfers to the last living member.

 

If the check was issued to a trust

Please fill out and send to us a Trust Affidavit.

If the check was issued to a dissolved partnership

Please fill out and send to us a Partnership Affidavit.

Ownership of capital credits transfers to the last living member of the partnership. If all previous owners are deceased, the heirs of the last surviving partner can claim the capital credits using the Partnership Affidavit and the paperwork rules for deceased members (see top of page).
 

If the check was issued to a dissolved corporation

Please fill out and send to us a Corporation Affidavit.

Ownership of capital credits transfers to the last living member of the corporation. If all previous owners are deceased, the heirs of the last surviving corporation can claim the capital credits using the Corporation Affidavit and the paperwork rules for deceased members (see top of page).

If a living check recipient would like to transfer ownership of all capital credits to someone else

Please fill out and send to us an Assignment of Capital Credits form.

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