Fiduciary Account. This is an account opened by a person in the capacity as a personal representative, guardian, conservator, agent, custodian, or other fiduciary, for the benefit of other person(s) who are the beneficial owner(s) of the account. The fiduciary is the owner of the account and funds deposited in the account, together with any interest and any future additions to the account, are held and controlled by the fiduciary designated on the account, for the benefit of the beneficial owner(s) of the account. Unless specifically instructed in writing to the contrary, the designated fiduciary is deemed fully authorized to engage in any and all account transactions without the consent of any beneficial owner(s). We shall have no duty to notify any beneficial owner(s) or any one else about any transaction requested by a fiduciary. We reserve the right, but shall not be obligated, to require the signatures and/or written consent of the fiduciary and all beneficial owners before we permit any account transaction if we believe it is necessary to do so. If the designated fiduciary ceases to be the fiduciary (due to death, resignation, incapacity, removal, or otherwise), we may suspend the account until a successor fiduciary is lawfully appointed. In opening, maintaining and/or administering the account, we may, but shall not be obligated to, require such legal and other documentation as we may deem necessary, from time to time, regarding the establishment, existence, terms and conditions of the fiduciary relationship. In addition, we may, but shall not be obligated to, require satisfactory written documentation of any change in fiduciary, and of any revocation, termination or change to the fiduciary relationship. We also may, but shall not be obligated to, refer to any legal or other documentation regarding the fiduciary relationship, to answer any questions we may have about the fiduciary relationship. We shall not, however, be responsible or liable for any acts of a fiduciary in breach of the terms of any fiduciary relationship, nor shall we be responsible for enforcing or complying with the terms of any fiduciary relationship. The designated fiduciary on the account shall be solely responsible for observing and performing all of the obligations and duties of a fiduciary under, and for complying with, all laws and legal and other documentation applicable to the fiduciary and its fiduciary relationship. We shall have no duty or responsibility to ensure the fiduciary’s actions...
Fiduciary Account. Such account is opened by a “fiduciary” (such as, a guardian, conservator, executor/executrix, administrator/administratrix, trustee, custodian, etc.) acting under a “fiduciary document” (such as, a court order, trust, will, agreement, etc.) for another person (“beneficiary”). At our request, the fiduciary shall provide certification of the existence of the fiduciary relationship and the fiduciary's status and authority. We are not a fiduciary on the account and may rely on any certification provided by the fiduciary. We are not required to and will not (1) enforce the terms of the fiduciary document and/or (2) monitor the account for compliance with the fiduciary document. We have no duty to ensure proper use of account funds by the fiduciary. We are not liable for misuse of account funds. Each fiduciary agrees to comply with the fiduciary document and to ensure proper use of account funds. Each fiduciary guarantees that all other fiduciaries will comply with all fiduciary documents. Each fiduciary agrees to tell us if a fiduciary document and/or the authority of that fiduciary or another fiduciary changes. Each fiduciary is liable for the actions of that fiduciary and every other fiduciary on the account. Each fiduciary agrees to indemnify and hold us harmless for all claims asserted by and/or on behalf on a beneficiary or another fiduciary and for our attorneys’ fees and costs arising from the fiduciary’s transactions on the account.
Fiduciary Account. An account involving a legal arrangement or capacity in which one person or entity (the fiduciary) acts on behalf of another. Examples include, but are not limited to: personal representative, guardian, or conservator for a minor or other legally incompetent person, and Trustee under Trust Agreement or under Will. Upon request of the Bank, the fiduciary will supply to the Bank an affidavit, certification or other documentation, including, without limit, copies of excerpts of any agreement, instrument or order pertaining to the account or fiduciary relationship.
Fiduciary Account. Persons serving as a fiduciary (such as a trustee, or a personal representative or administrator of an estate, or a court-appointed conservator) may open up accounts in their fiduciary capacities. Underlying written documentation establishing the fiduciary appointment will be required. By opening a fiduciary account, you agree that we do not assume any fiduciary responsibilities and will not monitor the account for compliance with the underlying fiduciary arrangement (unless we otherwise specifically assume such duty in writing signed by an authorized Bank official).
Fiduciary Account. Any individual acting as an agent, guardian, personal representative, trustee, custodian or in some other fiduciary capacity (collectively the “Fiduciary”) must be designated as such on the Bank's account records. We will otherwise assume that the individual owns the account in his or her individual capacity. We are authorized to follow the directions of a Fiduciary regarding your account until we receive written notice that the Fiduciary relationship has been terminated and have had a reasonable time to act upon the notice. We are not liable for the misapplication of funds from your account by your Fiduciary. Even if we have previously received a complete copy of the Agency Agreement, Trust Agreement, Court Order or other document under which the account is opened, we are authorized to follow the instructions of your Agent without determining if those instructions are contrary to or prohibited by such document. If you establish an account as a Fiduciary, you will abide by the relevant law and notify us in writing immediately upon an event that terminates the Fiduciary relationship, including but not limited to, the death of the minor or adult for whom you act as a Fiduciary, or at the time the minor attains the age of maturity. After notifying us of an event that terminates the Fiduciary relationship, your authority over the account continues only to the extent allowed by law. If you fail to provide immediate notice to us of the termination of the Fiduciary relationship, we may honor any checks or drafts written on the account or other debits without incurring any liability to the beneficiary, and you will be liable to us for any loss or expense, including without limitation attorneys’ fees and the cost of litigation, arbitration or other dispute resolution to the extent permitted by law, that we incur because of your failure to give prompt notice.
Fiduciary Account. If I am or a third party is a fiduciary to this account, I understand that the fiduciary is the person or entity authorized to make decisions with respect to this account. Fiduciaries may include, but are not limited to, a trustee, a guardian, a committee, an executor, an administrator, or any other person to whom I have granted authority over this account. I understand that Xxxxxx Xxxxx has no obligation to review the actions or inactions of or by a fiduciary in connec- tion with my account and is not responsible for determining whether a fiduciary’s action or inaction meets the standard of care applicable to the fiduciary’s handling of the account. I further understand and agree that Xxxxxx Xxxxx is not a fiduciary in connection with my account and does not accept any delegation of fiduciary authority in connection with my account. I agree to hold Xxxxxx Xxxxx, its partners, directors, o‰cers, employees, agents and a‰liates harmless from any liability, claim or expense for the actions or inactions of any fiduciary to my account. sent via electronic mail, text message or any other electron- ic medium, or provided as a recording such as voice mail, and agree not to give instructions in this manner. I agree that Xxxxxx Xxxxx may at any time, in its sole and absolute discretion, restrict trading, disbursements, deposits or transfers, or refuse to take an action in my account.
Fiduciary Account. You may establish Accounts for the benefit of another person. These Accounts may be opened by a legal representative of another party, such as a personal representative, guardian, or trustee under a trust agreement. We may require you to provide us with documents, satisfactory to us, that authorize you to act as a fiduciary before we establish a fiduciary Account for you. You hold the Credit Union harmless for distributions made in good faith. It is your responsibility to notify the Credit Union when your authority as a fiduciary has been revoked, rescinded, revised, or in any way modified. Health Savings Account We offer a Health Savings Account that is also governed by a separate disclosure and agreement that we will furnish to you at the time the Account is opened.
Fiduciary Account. TDB does not offer fiduciary accounts, except to the extent that a fiduciary relationship is created in connection with the disbursement of an account in probate or pursuant to a Payable on Death designation. An account involving a legal arrangement or capacity in which one person or entity (the fiduciary) acts on behalf of another. Examples include, but are not limited to: personal representative, guardian, or conservator for a minor or other legally incompetent person, and Trustee under Trust Agreement or under Will. Upon request of the Bank, the fiduciary will supply to the Bank an affidavit, certification or other documentation, including, without limit, copies of excerpts of any agreement, instrument or order pertaining to the account or fiduciary relationship.
Fiduciary Account. Such fiduciary account shall be established and maintained by Administrator in a federally or state insured financial institution.
Fiduciary Account. (a) All insurance charges or premiums collected by FAS on behalf of Client Company pursuant to this Agreement and/or returned premiums received from Client Company shall be held by FAS hereunder in a fiduciary capacity. FAS shall promptly remit all such funds to the person entitled to them or promptly deposit them in a segregated fiduciary bank account established and maintained for the benefit of Client Company for such purpose. FAS shall make withdrawals from any such fiduciary account only for the following purposes: (a) remittance to Client Company; (b) deposit into an account owned by Client Company; (c) transfer or deposit to a claims paying account established by FAS for the benefit of Client Company; (d) payment to an insured; or (e) remittance of returned premiums to the person or entity entitled to them. FAS shall require the bank in which the fiduciary account is maintained to keep records clearly recording the deposits and withdrawals from such account in a fashion that clearly distinguishes such deposits and withdrawals from those of any other person. FAS shall not pay any claims from this account.
