Common use of Accounts for Businesses and Organizations Clause in Contracts

Accounts for Businesses and Organizations. Accounts held in the name of a member, organization or association for business purposes are subject to the same terms and conditions set forth in this Agreement. Owners agree to inform the Credit Union of the persons authorized to transact business on behalf of the corporation or organization. The Credit Union may rely on the account owner’s written authorization until such time as the Credit Union is informed of any changes in writing. The Credit Union may require that third party checks payable to a business may not be cashed, but must be deposited to a business account. The Credit Union shall have no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owners, unless the Credit Union has written notice of any wrongdoing. ACCOUNT REQUIREMENTS AND INFORMATION

Accounts for Businesses and Organizations. Accounts held in the name of a the member, organization organization, municipality or association for business purposes are subject to the same terms and conditions set forth in this AgreementAgreement and the following additional rules. Owners All principals of the business or organization must be eligible for membership in the Credit Union. The account owners agree to inform the Credit Union of the persons authorized to transact business on behalf of the corporation corporation, partnership, sole proprietorship, municipality or organizationassociation. The Credit Union may rely on the account owner’s written authorization until such time as the Credit Union is informed of any changes in writing. The Credit Union may require requires that third party checks payable to a business may not be cashed, but must be deposited to a the business account. The Credit Union shall be deemed to have no notice of any breach of fiduciary duties arising from a transaction by any an agent of the account ownersowner, unless the Credit Union has written notice of any wrongdoing. ACCOUNT REQUIREMENTS AND INFORMATION.