11) Crunchi Businesses - Transfer or DistributionUpdated 3 months ago
11) Crunchi Businesses - Transfer or Distribution
11.1 TRANSFER UPON AN ADVOCATE’S DEATH: Crunchi businesses are non-transferable except upon the death of an Advocate. An Advocate may devise their business for their heirs. Because Advocates cannot divide commissions among multiple beneficiaries or transferees, the beneficiaries or transferees must form a business entity (corporation, LLC, partnership, etc.), and Crunchi will transfer the business and issue commissions to the business entity. In the case of a business transfer via testamentary instrument, the beneficiary of the business must provide Crunchi with certified letters of testamentary and written instructions from the trustee of the estate, or an order of the court, that provides direction on the proper disposition of the business. The beneficiary must also execute and submit to Crunchi an Advocate Enrollment Form and Agreement within thirty (30) days from the date on which the business is transferred by the estate to the beneficiary or the business will be canceled.
11.2 BUSINESS DISTRIBUTION UPON DIVORCE: Crunchi is not able to divide commissions among multiple parties, nor is it able to divide a sales team. Consequently, in divorce cases, any settlement or divorce decree must award the business in its entirety to one party. Crunchi will recognize as the owner of the business the former spouse who is awarded the business pursuant to a legally binding settlement agreement or decree of the court. The former spouse who receives the Crunchi business must also execute and submit an Advocate Enrollment Form and Agreement within thirty (30) days from the date on which the divorce becomes final or the business will be canceled.
11.3 DISSOLUTION OF A BUSINESS ENTITY: Crunchi is not able to divide commissions among multiple parties, nor is it able to divide a sales team. Consequently, in the event that a business entity that operates a Crunchi business dissolves, the owners of the business entity must instruct Crunchi on the identity of the proper party who is to receive the business. The Crunchi business must be awarded to a single individual or entity that was previously recognized by Crunchi as an owner of the business entity; Crunchi cannot divide the business among multiple parties or issue separate commission payments. In addition, the recipient of the Crunchi business must also execute and submit an Advocate Enrollment Form and Agreement to Crunchi within thirty (30) days from the date of the dissolution of the business entity or the Crunchi business will be canceled.