Common use of Death or Incompetence Clause in Contracts

Death or Incompetence. Neither a member’s death nor a legal adjudication of incompetence revokes the Credit Union’s authority to accept, pay or collect items until the Credit Union knows of the fact of death or of an adjudication of incompetence and has a reasonable opportunity to act on it. Even with knowledge the Credit Union may, for 10 days after the date of death, pay checks drawn on or before the date of death unless ordered to stop payment by a person claiming an interest in the account.

Death or Incompetence. Neither a member’s death nor a legal adjudication of incompetence revokes the Credit Union’s authority to accept, pay or collect items until the Credit Union knows of the fact of death or of an adjudication of incompetence and has a reasonable opportunity to act on it. Even with knowledge the Credit Union may, for 10 days after the date of death, pay checks drawn on or before the date of death unless ordered to stop payment by a person claiming an interest in the accountAccount.

Death or Incompetence. Neither a member’s death nor a legal adjudication of incompetence revokes the Credit Union’s authority to accept, pay or collect items until the Credit Union knows of the fact of death or of an adjudication of incompetence and has a reasonable opportunity to act on it. Even with Evenwith knowledge the Credit Union may, for 10 days after the date of death, pay checks drawn on or before the date of death unless ordered to stop payment by a person claiming an interest in the account.

Death or Incompetence. Neither a member’s death member’sdeath nor a legal adjudication of incompetence revokes the Credit Union’s authority Union’sauthority to accept, pay or collect items until the Credit Union knows of the fact of death or of an adjudication of incompetence and has a reasonable opportunity to opportunityto act on it. Even with knowledge the Credit Union may, for 10 days after the date of death, pay checks drawn checksdrawn on or before the date of death unless ordered unlessordered to stop payment by a person claiming an claimingan interest in the account.