Custodial Accounts for Minors. If a custodial account was selected, such as UTMA/UGMA, as the Customer Type in the New Account Application, the custodian opening the account (“Custodian”) understands Custodian has opened a custodial account for a minor and acts as the account custodian on behalf of the minor owner. It is Custodian’s obligation to adhere to all applicable laws and regulations governing such accounts. Custodian should consult with an attorney and/or tax advisor before opening a custodial account. The age of majority varies by state. Xxxxxxxxx agrees to promptly inform its advisor and broker in writing upon the account owner reaching the age of majority and to facilitate the transfer of the account assets to its beneficial owner. Apex reserves the right, but shall not be obligated, to terminate the custodianship and/or transfer the account assets to the beneficial owner upon the minor reaching the age of majority as determined by the state code Custodian has included, without notice to or consent of Custodian.
Custodial Accounts for Minors. We will maintain custodial accounts for minors under the Uniform Gift to Minors Act or the Uniform Transfer to Minors Act. If you open a custodial account, you understand that the assets in the account belong to the minor. If you transfer assets out of the custodial account, you understand that they must be used for the benefit of the minor. You are responsible for notifying us when the minor reaches the age of majority or is otherwise entitled to directly control the assets in the custodial account, and you are responsible for taking such actions as necessary to provide the former minor with access to the assets in the custodial account. We may restrict access to the custodial account, or otherwise restrict activity in the custodial account, if we believe the minor has reached the age of majority or is otherwise entitled to directly control the assets in the custodial account. In such circumstances, we may provide the former minor control of the assets in the custodial account and take any such other actions necessary to provide the former minor such control.
Custodial Accounts for Minors. Any custodial accounts for minors are subject to the terms and conditions set forth in the Uniform Transfer to Minors Act. It is your responsibility to know and abide by any legal effects related to this type of account. Other Accounts for Minors. We may require any account established by a minor to be a multiple party account with an owner who has reached the age of majority under Oklahoma law and who shall be jointly and severally liable to us for any returned item, overdraft, or unpaid charges or amounts on such account. We may pay funds directly to a minor without regard to his or her minority. Unless a guardian or parent is an account owner, the guardian or parent shall not have any account access rights. We have no duty to inquire about the use or purpose of any transaction. We may not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners. Missing Endorsements. The Credit Union is authorized to supply any of your endorsements on any check or other instrument tendered for any account, and the Credit Union shall have no liability in connection with the collection of such items that are handled by it without negligence, and the credit union shall not be held liable for the acts of any agents, subagents or others. We may accept transfers, checks, drafts and other items for deposit into your account(s) if they are made payable or to the order of one or more account owners, even if they are not endorsed by all payees. Withdrawals may not be made on account of such items until collected, or as otherwise provided by law. Any amount not collected, or later returned, may be charged back to the account, including expenses incurred, and any other outside expenses incurred relative to the account may be charged to it. Convenience Signer/Agency Designation on an Account. A convenience signer or agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. If the instruction is accepted, an agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Share Insurance. Your savings in the Credit Union are insured up to $250,000 by the National Credit Union Administration (NCUA), an agency of the Federal Government, in accordance with regulations promulgated by the NCUA. Re...
Custodial Accounts for Minors. If the Account is a custodial account, we will maintain an account established under the Uniform Gifts to Minors Act or Uniform Transfers to Minors Act. You represent that the assets in the Account belong to the minor, and that you will only use all such assets for the benefit of the minor. We are not responsible for determining the appropriateness of any actions you take as custodian.
Custodial Accounts for Minors. When you establish an Account under the Uniform Transfers to Minors Act as enacted in the state in which you reside (the “Act”) and make deposits as custodian for the benefit of a minor, all deposits to that Account will be governed by the Act. Deposits may be made to an Account controlled by an adult acting as custodian for a minor. Once a deposit is made to the Account, that deposit and the interest it earns belong to the minor. Until the child reaches the age of majority as defined in the Act, control of the Account generally remains in the hands of the custodian. Tax liability generally will be in the name of the minor, and the custodian must therefore include the minor’s SSN when the Account is opened. Only one adult at a time may serve as custodian for a minor Account. A successor custodian may be designated at the time of Account opening on the signature card, or at a later time. Consult your tax advisor concerning this type of Account. If the Applicable Law of your state allows for the establishment of Accounts for minors other than under the Act, that Account is not subject to the Act and we may allow control over the Account to the extent permissible under the Applicable Law.
Custodial Accounts for Minors. You may be permitted to establish a custodial account for a minor child under the Uniform Transfer to Minors Act (UTMA) and the Uniform Gifts to Minors Act (UGMA) (each, a “Custodial Account”). You understand and acknowledge that upon establishing a Custodial Account on behalf of a minor beneficiary you are thereby designated the custodian of the account (“Custodian”). As Custodian, it is your obligation to adhere to all applicable laws and regulations governing such accounts. You understand that you should consult with an attorney and/or tax advisor before opening a Custodial Account. The age of majority varies by state. As Custodian you hereby agree to promptly inform Apex Crypto in writing upon the Custodial Account beneficiary reaching the age of majority and to facilitate the transfer of the Account to its beneficial owner. Apex Crypto reserves the right, but shall not be obligated, to terminate the custodianship and/or transfer the Account assets to the beneficial owner upon the minor reaching the age of majority as determined by applicable law, without notice to or consent of the Custodian.
Custodial Accounts for Minors. Persons not of legal age (i.e., minors) may not register guest user profiles and/or investment Accounts for themselves. Investment Accounts for minors may be facilitated by their respective parents or legal guardians, as Custodial accounts. Within the framework of the Children’s Online Privacy Protection Rule (“COPPA”), minors may be provided with limited abilities to view investment Account activities such as gifts received, but will not be provided with additional functionalities without parental knowledge and consent.
Custodial Accounts for Minors. Any custodial accounts for minors are subject to the terms and conditions set forth in the Colorado Uniform Transfer to Minors Act. It is your responsibility to know and abide by any legal effects related to this type of account. Other Accounts for Minors. We may require any account established by a minor to be a multiple party account with an owner who has reached the age of majority under Colorado and who shall be jointly and severally liable to us for any returned item, overdraft, or unpaid charges or amounts on such account. We may pay funds directly to a minor without regard to his or her minority. Unless a guardian or parent is an account owner, the guardian or parent shall not have any account access rights. We have no duty to inquire about the use or purpose of any transaction. We will change the account status after the minor reaches the age of majority.
Custodial Accounts for Minors. We will maintain custodial accounts for minors under the Uniform Gift to Minors Act or the Uniform Transfer to Minors Act. If you open a custodial account, you understand that the assets in the account belong to the minor. If you transfer assets out of the account, you understand that they must be used for the benefit of the minor.
Custodial Accounts for Minors. A minor, as defined in applicable State law, may establish and contribute to a Custodial Account hereunder, but only if acceptable and agreed to by the Custodian pursuant to Custodial policy then in effect and only provided such minor is eligible to establish and contribute to an Individual Retirement Account pursuant to Code sections 219 and 408(a) or a Xxxx Individual Retirement Account pursuant to Code section 408A. Notwithstanding any provision of this Agreement to the contrary, the Beneficiary of a Custodial Account held by a minor, as herein defined, shall be the minor’s estate.
