Application Changes. The Application (Exhibit A) may, from time to time at the discretion of the Participant, be modified by means of written instrument to the Custodian, signed by the Participant. Specifically, modifications which are permitted are: a) Change of Beneficiary as provided for in the Application. If there is no Beneficiary designation at the death of the Participant, the Beneficiary shall be the spouse of the Participant; or if there is no spouse living at the time of the Participant's death, the Beneficiary shall be the estate of the Participant.
Appears in 3 contracts
Sources: Individual Retirement Custodial Account Agreement (Iaa Trust Asset Allocation Fund Inc), Individual Retirement Custodial Account Agreement (Iaa Trust Money Market Fund Inc), Individual Retirement Custodial Account Agreement (Iaa Trust Growth Fund Inc)