Common use of Control of Joint Accounts Clause in Contracts

Control of Joint Accounts. If a member maintains a joint share savings account, it can only be closed by the primary owner, as closure will terminate membership. Except as set forth above, any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each owner guarantees the signature or authenticated request of any other owner(s). Any owner may transfer or withdraw funds (including all funds), stop payment on items, transfer, or pledge to us all or any part of the shares without the consent of the other owner(s). We have no duty to notify any owner(s) about any transaction. We reserve the right to require written consent of all owners for any change to or termination of an account. If we receive written notice of a dispute between owners or inconsistent instructions from them, we may suspend or terminate the account and require a court order or written consent from all owners in order to act.

Appears in 5 contracts

Samples: Account Agreement, Account Agreement, Account Agreement

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Control of Joint Accounts. If a member maintains a joint share savings account, it can only be closed by the primary owner, as closure will terminate membership. Except as set forth above, any Any owner is authorized and deemed to act as an agent for any other owner(s) and may instruct us regarding transactions and other account Account matters. Each owner guarantees the signature or authenticated request of any other owner(s). We are entitled to rely on the instructions of one co-owner with no liability to any other co-owner. Any owner may transfer or withdraw funds (including all funds), stop payment on items, transfer, or pledge to us all or any part of the shares deposits without the consent of the other owner(s). We have no duty to notify any owner(s) about any transaction. We reserve the right to require written consent of all owners for any change to or termination of an accountAccount. If we receive written notice of a dispute between owners or inconsistent instructions from them, we may suspend or terminate the account Account and require a court order or written consent from all owners in order to act.

Appears in 1 contract

Samples: Membership Agreement

Control of Joint Accounts. If a member maintains Any action to change, modify or amend a joint share savings account, it can only be closed by account requires the primary owner, as closure will terminate membership. Except as set forth above, consent of all members on the account unless all the owners/members of the account have agreed otherwise in which case any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each owner guarantees the signature or authenticated request of any other owner(s). Any owner may transfer or withdraw funds (including all funds), stop payment on items, transfertransfer funds. Unless the owners of the account have agreed otherwise, or all owners must consent to any action to pledge to us all or any part of the shares without the consent of the other owner(s)shares. We have no duty to notify any owner(s) about any transaction. We reserve the right to require written consent of all owners for any change to or termination of an the account. If we receive written notice of a dispute between owners or inconsistent instructions from them, we may suspend or terminate the account and require a court order or written consent from all owners in order to act.

Appears in 1 contract

Samples: Membership and Account Agreement

Control of Joint Accounts. If a member maintains a joint share savings account, it can only be closed by the primary owner, as closure will terminate membership. Except as set forth above, any Any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each account owner guarantees the signature or authenticated request of any other owner(s)) and authorizes each account owner to endorse checks and other items in each other’s name for deposit or presentment to the Credit Union. Any owner may withdraw or transfer or withdraw funds (including all funds), stop payment on items, transfer, or pledge to us all or any part of the shares shares, or stop payment on items without the consent of the other owner(s). We have no duty to notify any owner(s) about any transaction. We reserve the right to require written consent of all owners for any change to or termination of an account. If we receive written notice of a dispute between owners or inconsistent instructions from them, we may suspend or terminate the account and require a court order or written consent from all owners in order to act.

Appears in 1 contract

Samples: join.winsouthcu.com

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Control of Joint Accounts. If a member maintains a joint share savings account, it can only be closed by the primary owner, as closure will terminate membership. Except as set forth above, any Any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each account owner guarantees the signature or authenticated request of any other owner(s)) and authorizes each account owner to endorse checks and other items in each other's name for deposit or presentment to the Credit Union. Any owner may withdraw or transfer or withdraw funds (including all funds), stop payment on items, transfer, or pledge to us all or any part of the shares shares, or stop payment on items without the consent of the other owner(s). We have no duty to notify any owner(s) about any transaction. We reserve the right to require written consent of all owners for any change to or termination of an account. If we receive written notice of a dispute between owners or inconsistent instructions from them, we may suspend or terminate the account and require a court order or written consent from all owners in order to act.

Appears in 1 contract

Samples: Membership and Account Agreement

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