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The Capital Electric bylaws provide for the option of an early retirement of the capital credits of a deceased member to his or her estate (No early retirement of capital credits is allowed in the case of dissolution of a corporation or partnership). Representatives of a deceased member’s estate can choose whether to receive the deceased member’s capital credits in the form of a discounted lump sum payout or to wait and receive the monies as they are retired as part of the normal, non-discounted retirement process of the cooperative. To find the dollar amount of the discounted estate retirement, the executor of the estate must contact the cooperative. When ready to make an election regarding the deceased member’s estate, the executor of the estate must fill out and sign one of two forms: • If a personal representative is or will be appointed by the court, then a Request for payment form must be signed. This form, along with a copy of the Letters Testamentary or Letters of Administratio
