Abandoned Accounts. The Transfer Agent shall perform the following services (the “Core Escheatment Services”) for, and to assist, the Fund in complying with state escheatment requirements: (i) identify and process the Fund’s accounts that have returned post office mail (“RPO accounts”), inactive accounts and uncashed checks; (ii) perform all required lost shareholder searches in compliance with Rule 17Ad-17; (iii) perform all required state unclaimed property due diligence mailings based on state mailing schedules; (iv) provide pre-escheatment reports during January/February for the Fall cycle and November/December for the Spring/Summer cycles; (v) capture and maintain customer “date of last contact” and type of contact; and (vi) escheat abandoned and unclaimed assets based on applicable state dormancy periods and remittance schedules. In consideration of the performance of the Core Escheatment Services by the Transfer Agent, the Funds shall pay the Transfer Agent the Core Escheatment Service fees set forth on Schedule 3.1 to the Agreement. In addition to the Core Escheatment Services, the Transfer Agent has enhanced its unclaimed property administration (“UPA”) services to include certain additional optional outreach capabilities as described in Exhibit B to this Agreement (the “Outreach Services”). The Transfer Agent shall provide the Outreach Services to the Fund in accordance with the terms set forth in Exhibit B and this Agreement. For the avoidance of doubt, the Transfer Agent shall be responsible to the Funds for the acts or omissions of any Outreach Subcontractor to the same extent that the Transfer Agent would be liable for such acts or omissions under the terms of Exhibit B had the Transfer Agent not sub-contracted such services to an Outreach Subcontractor.
Abandoned Accounts. If an account has been deemed abandoned under Massachusetts law because there has been no account activity (for example, some form of customer initiated transaction or communication) for a period of three years, we must turn the funds in the account over to the Commonwealth of Massachusetts. We will attempt to notify you in writing before this takes place. Funds which have been turned over to the Commonwealth can be reclaimed from the Commonwealth, but proof of ownership will be required before payment will be made by the Commonwealth.
Abandoned Accounts. An Account may be considered inactive and abandoned when: You fail to notify us in writing of any change to your mailing address, we are unable to verify an existing address, or you have not made a deposit or withdrawal from your Account for one year or longer and after several attempts we are unable to verify you still intend to keep the Account. Accounts that are considered abandoned are subject to escheatment in accordance with the applicable law of your state of residence. We will attempt to contact you prior to turning any deposit Account over to the state. You agree that we are not responsible for any funds turned over to the state pursuant to applicable laws and regulations. If your funds are turned over to the state, you must apply to the applicable state agency to reclaim your funds. If your balance is zero or falls below zero for two consecutive months, HSA Bank reserves the right to close your Account. Please refer to your Health Savings Account Fee and Interest Schedule regarding fees that may apply. Right to Refuse Any Deposit, to Close Any Account, or to Terminate Account Services. We reserve the right, in our discretion, to refuse to accept your deposit, including a new Account deposit, to offer an account service, such as a debit card, or to close your Account at any time. If we close your Account and you owe us money for any reason, you will still be responsible for paying the money due. We reserve the right to prevent your access to your Account or to close your Account without notice when we reasonably believe we will otherwise sustain a loss. We also may prevent your use of your Account without prior notice pending the resolution of a claim, investigation, or dispute concerning the Account. Right To Discontinue Program. We reserve the right, in our discretion, to discontinue our Account program and related services without prior notice unless longer notice is required by law. Account Transfer. You may not transfer, assign, or pledge your Account without our prior written approval. We may transfer your Account or assign or delegate any or all of our rights and responsibilities to any third party, without notice to you. What Happens if You Owe Us Money or Cause Us to Sustain a Loss. You agree to pay us for any costs incurred in collecting items you deposit or because you withdraw funds from your Account in excess of your available Account balance, for any items that are returned unpaid, or for any other transactions that result in a loss ...
Abandoned Accounts. If you fail to notify us in writing of any change to your current mailing address or you fail to utilize your account, your account and deposits may be presumed dormant or even abandoned after a certain period of time. Dormant accounts may be subject to reasonable service charges (similar to those imposed on active accounts), and service charges may also be imposed on accounts presumed to be abandoned. Accounts that are presumed to be abandoned will be escheated to the state of your last known address in which your account is maintained in accordance with applicable law. We will make a reasonable effort to notify you at the address set forth in Section 17 above prior to any account being escheated to the State.
Abandoned Accounts. If your Account becomes abandoned, the shares will be turned over to the applicable state agency responsible for unclaimed funds and your Account may be debited by MCU as permitted by law. Pursuant to New York State law, an account is considered abandoned if it is inactive for a period of three (3) consecutive years. Your Account will be considered inactive unless you do one of the following: (1) deposit or withdraw funds; or (2) submit something in writing showing us you are aware of the Account.
Abandoned Accounts. If a deposit or withdrawal has not been made on the Account and we have had no other sufficient contact with you within the period specified by Puerto Rico law, the Account will be presumed to be abandoned. Funds in abandoned Accounts will be reported and remitted in accordance with Puerto Rico law. Once funds have been turned over to the Government of Puerto Rico, by means of the Puerto Rico Office of the Commissioner of Financial Institutions, we have no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the Office of the Commissioner of Financial Institution of the Commonwealth of Puerto Rico or the appropriate governmental agency.
Abandoned Accounts. If there has been no activity on your account(s) for a period of time and we are unable to contact you (your mail is being returned), we reserve the right to transfer the account funds to an accounts payable and to suspend any further account statements. While in this abandoned status there will be a monthly escheatment processing fee. This will continue until the funds are either fully depleted or they are sent to the appropriate state agency. Funds in abandoned accounts will be reported and remitted in accordance with state law. Once funds have been turned over to the state, we have no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
Abandoned Accounts. If you do not use your account, your account may be presumed abandoned after a certain period of time. If your account is presumed to be abandoned, the remaining funds in the account will be turned over to the appropriate state in accordance with applicable law. Rules when using Electronic Funds Transfer (EFT) Services We may provide you with EFT services, including preauthorized credit (direct deposit) into your account, preauthorized transfers from your account and other EFT services described in this agreement. Types of EFT Transactions We offer each of the EFTs described below. Some of the services may be limited by third parties. Transfers You may transfer funds between your designated accounts by logging into your account or by calling us at 000-000-0000.
Abandoned Accounts. Apex and Kindur shall have the right to report, escheat, and deliver assets in your Account to the state of your address of record if they determines that an account has been abandoned in accordance with applicable state law.
Abandoned Accounts. Betterment Securities shall have the right to report, escheat, and deliver assets in Client’s Account to the state of Client’s address of record if Betterment Securities determines that Client’s Account has been abandoned in accordance with applicable state law. Betterment Securities will not be liable for any fluctuations in market prices if cash balances in Client’s account are reinvested in securities in order to facilitate escheatment.
