Common use of Accounts for Trusts Clause in Contracts

Accounts for Trusts. An account for a trust is an account held in the name of the trust by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable or irrevocable trust agreement. The trustee(s) shall sign an Account Authorization Card and provide any other evidence of the trustee’s authority that the Credit Union requires. Trustee(s) warrants that a valid living trust has been created and is currently existing. The trustor or the primary beneficiary of an irrevocable trust must be eligible for membership in the Credit Union. The trustor of a revocable trust must be eligible for membership in the Credit Union. The Credit Union does not act as a trustee and is under no obligation to inquire as to the powers or duties of the trustee(s). Trustee agrees to notify the Credit Union in writing if a change of trustee occurs. Credit Union may withhold payment of funds to any party until proper evidence of authority is provided. Credit Union may rely upon the directions of any one trustee until a written notice of revocation of the living trust or an account change form is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold Credit Union harmless of any liability, claim, damage, or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which Credit Union relies prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee, and beneficiaries.

Accounts for Trusts. An account for a trust is an account held in the name of the trust by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable or irrevocable trust agreement. The trustee(s) shall sign an Account Authorization Card and provide any other evidence trustee must be a member of the trustee’s authority that the Credit Union requiresand maintain a personal membership account for the Credit Union to establish and maintain a non­membership account in the name of a revocable or irrevocable trust. Trustee(s) Trustee warrants that a valid living trust has been created and created, is currently existing. The trustor or , and will provide evidence of the primary beneficiary of an irrevocable trust must be eligible for membership in trustee’s authority by completing the Credit Union. The trustor of a revocable trust must be eligible for membership in the Credit UnionTrustee Certification and Agreement. The Credit Union does not is under no obligation to act as a trustee and is under no obligation or to inquire as to the powers or duties of the trustee(s). Trustee Xxxxxxx agrees to immediately notify the Credit Union in writing if any change regarding the trust agreement (including a change of trustee occursin trustee) occurs and to complete a new Trustee Certification and Agreement. Credit Union may withhold payment of funds to any party until proper evidence of authority is provided. Funds may be released to any one trustee acting alone or with a co­trustee. Credit Union may rely upon the directions of any one trustee until a written notice of revocation of the living trust or an account change form is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to defend as well as to indemnify and hold the Credit Union harmless of any liability, claim, damage, damage or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any unless a successor trustee upon which notifies the Credit Union relies in writing prior to notice of revocation of the trustany unauthorized act. This Agreement shall be binding on the trust, any trustee, successor trustee, trustee(s) and beneficiaries.

Accounts for Trusts. An account for a trust is an account held in the name of the trust by one or more trustees of a trust for the benefit of one or more beneficiaries pursuant to a revocable or irrevocable trust agreement. The trustee(s) shall sign an Account Authorization Card and provide any other evidence of the trustee’s authority that the Credit Union requires. Trustee(s) warrants that a valid living trust has been created and is currently existing. The trustor or the primary beneficiary of an irrevocable trust must be eligible for membership in the Credit Union. The trustor of a revocable trust must be eligible for membership in the Credit Union. The Credit Union does not act as a trustee and is under no obligation to inquire as to the powers or duties of the trustee(s). Trustee Xxxxxxx agrees to notify the Credit Union in writing if a change of trustee occurs. Credit Union may withhold payment of funds to any party until proper evidence of authority is provided. Credit Union may rely upon the directions of any one trustee until a written notice of revocation of the living trust or an account change form is received. Funds may be released to any one trustee acting alone or with a co-trustee. The trustee(s) agrees to indemnify and hold Credit Union harmless of any liability, claim, damage, or loss arising as a result of unauthorized acts of any trustee or former trustee or acts of any trustee upon which Credit Union relies prior to notice of revocation of the trust. This Agreement shall be binding on the trust, any trustee, successor trustee, and beneficiaries.