Handling divorce, dissolution, and court-ordered separations of IA positions.
Overview
When an IA position is held jointly or when life circumstances change (divorce, partnership dissolution), specific procedures apply to separate or reassign the position.
Reference: P&P Section 2.7
Types of Separation
| Type | Description |
|---|
| Divorce | Marriage dissolution affecting jointly-held position |
| Partnership dissolution | Business partners separating |
| Court-ordered | Legal mandate to divide assets |
| Mutual agreement | Parties agree to separate position |
General Principles
| Principle | Detail |
|---|
| One position | An IA position cannot be split into two |
| Assignment required | Position must be assigned to ONE party |
| Company approval | All separations require company consent |
| Documentation | Legal documents required |
Divorce Procedures (P&P 2.7)
Step 1: Notify the Company
Step 2: Provide Documentation
| Document | Purpose |
|---|
| Divorce filing | Proof proceedings initiated |
| Settlement agreement | Shows asset division |
| Court order | If position specifically addressed |
| Final decree | When divorce finalized |
Step 3: Position Assignment
The position will be assigned based on:
| Priority | Basis |
|---|
| 1 | Court order specifying assignment |
| 2 | Written agreement between parties |
| 3 | Party who originally enrolled |
| 4 | Company discretion |
Step 4: Non-Assigned Party
The party NOT receiving the position:
| Restriction | Duration |
|---|
| Cannot re-enroll | 6 months from separation date |
| Cannot enroll under former spouse | Permanently |
| May enroll under different sponsor | After waiting period |
Partnership Dissolution
When business partners who jointly hold an IA position separate.
Process
| Step | Action |
|---|
| 1 | Submit written notice of dissolution |
| 2 | Provide partnership dissolution agreement |
| 3 | Indicate which partner retains position |
| 4 | Non-retaining partner signs release |
Assignment Rules
| Situation | Assignment |
|---|
| Agreement between partners | Per agreement |
| No agreement | Original enrolling partner |
| Dispute | Company makes determination |
Business Entity Dissolution
If the IA position is held by an LLC/corporation being dissolved:
| Step | Action |
|---|
| 1 | Notify company of entity dissolution |
| 2 | Provide dissolution documents |
| 3 | Request transfer to individual or new entity |
| 4 | Complete transfer application |
Court-Ordered Separations
When a court mandates division of the IA position.
Company Compliance
| Situation | Company Action |
|---|
| Court order received | Review and comply |
| Order specifies recipient | Transfer to named party |
| Order silent on position | Follow standard procedures |
Required Documents
| Document | Required |
|---|
| Certified court order | Yes |
| Identification of parties | Yes |
| Proposed assignment | Yes |
| Recipient's IA application | If new to company |
Timeline
| Stage | Timeframe |
|---|
| Court order receipt | Document immediately |
| Review | 5-10 business days |
| Implementation | Within 30 days of final order |
Commission Handling During Separation
Pending Commissions
| Situation | Handling |
|---|
| Pre-separation earnings | Paid per original account setup |
| Post-separation earnings | Paid to assigned position holder |
| Disputed period | May be held pending resolution |
Wallet Balances
| Balance Type | Treatment |
|---|
| OCA balance | Transfers with position OR per agreement |
| BW balance | Transfers with position |
| Pending CSR | Transfers with position |
During Proceedings
| Status | Effect |
|---|
| Account may be frozen | Pending resolution |
| Withdrawals may be restricted | Until assignment determined |
| Commissions continue accruing | To the account |
Waiting Periods
Non-Assigned Party Re-Enrollment
| Circumstance | Waiting Period |
|---|
| Divorce | 6 months |
| Partnership dissolution | 6 months |
| Court-ordered separation | Per court order or 6 months |
Restrictions
| Restriction | Detail |
|---|
| Cannot enroll under former spouse/partner | Permanent |
| Cannot enroll in former downline | Permanent |
| Must enroll under unrelated sponsor | Required |
Dispute Resolution
If Parties Disagree
| Step | Action |
|---|
| 1 | Submit respective positions in writing |
| 2 | Provide supporting documentation |
| 3 | Company reviews and determines |
| 4 | Decision is final |
Company Discretion
The company may consider:
- Who originally enrolled
- Who has been primarily active
- Written agreements between parties
- Equity and fairness
- Legal requirements
Appeal
| Aspect | Detail |
|---|
| Timeline | 15 days from decision |
| Basis | New evidence only |
| Final | Appeal decision is final |
Special Situations
Death During Separation
If one party dies during separation proceedings:
| Situation | Result |
|---|
| Before final order | Estate and surviving party negotiate |
| After assignment | Assigned party retains |
Bankruptcy
| Situation | Handling |
|---|
| One party bankrupt | Trustee may have claims |
| Position as asset | Company cooperates with legal process |
| Assignment | Per bankruptcy court direction |
International Divorces
| Consideration | Detail |
|---|
| Jurisdiction | Laws of divorce jurisdiction apply |
| Recognition | Company recognizes valid foreign orders |
| Translation | Certified translations required |
Separation Request
Submit to compliance@corsairconnect.com:
| Field | Required |
|---|
| Account holder name(s) | Yes |
| Account/IA ID | Yes |
| Type of separation | Yes |
| Proposed assignment | Yes |
| Contact for each party | Yes |
Supporting Documents Checklist
Processing Timeline
| Stage | Typical Time |
|---|
| Initial review | 5 business days |
| Document verification | 5-10 business days |
| Decision | 10-15 business days |
| Implementation | 5 business days |
| Total | 4-6 weeks |
Complex cases may take longer.
For separation matters: