Individual Business Accounts. An individual account is an account owned by one depositor including any individual or sole proprietor qualified for Credit Union membership. If the account is an individual account, the interest of a deceased individual owner will pass, subject to applicable law, to the decedent’s estate.
Individual Business Accounts. An individual ac- count is an account owned by one individual deposi- tor including any sole proprietor qualified for Credit Union membership. If the account is an individual account, the interest of a deceased individual will pass, subject to applicable law, to the decedent’s estate. We may require any claimant to the account to produce certain documents before releasing the funds to the account. The Credit Union may continue to honor all transfers, withdrawals, deposits and other transac- tions on the account until the Credit Union learns of an account owner’s death. Once the Credit Union learns of an account owner’s death, the Credit Union may pay checks or honor payments or transfer orders authorized by the deceased member for a period of ten (10) days unless the Credit Union receives instructions from any person claiming an interest in the account to stop payment on the checks or other items. You agree that the Credit Union can require that anyone who claims funds in the account after your death to indemnify the Credit Union for any losses from honor- ing that claim.
Individual Business Accounts. An individual business account is an account owned by one depositor including any individual, or sole proprietor qualified for Credit Union membership and the account is used for business purposes. If the account is an individual account, the interest of a deceased individual will pass, subject to applicable law to the decedent’s estate. You understand that unless you waive your rights, certain account designations may be invalidated on the Credit Union’s receipt of notice of marriage dissolution or a testamentary disposition, as required by applicable law. We may require any claimant to the account to produce certain documents before releasing the funds to the account. The Credit Union may continue to honor all transfers, withdrawals, deposits and other transactions on the account until the Credit Union learns of an account owner’s death. Once the Credit Union learns of an account owner’s death, the Credit Union may pay checks or honor payments or transfer orders authorized by the deceased member for a period of ten (10) days unless the Credit Union receives instructions from any person claiming an interest in the account to stop payment on the checks or other items. You agree that the Credit Union can require that anyone who claims funds in the account after your death to indemnify the Credit Union for any losses from honoring that claim.
Individual Business Accounts. Sole Proprietorship. An individual business account is an account owned by one depositor, or married couple, including any individual, or sole proprietor qualified for Credit Union membership and the account is used for business purposes. If the account is an individual account, the interest of a deceased individual will pass, subject to applicable law to the decedent’s estate. You understand that unless you waive your rights, certain account designations may be invalidated on the Credit Union’s receipt of notice of marriage dissolution or a testamentary disposition, as required by applicable law. We may require any claimant to the account to produce certain documents before releasing the funds to the account. The Credit Union may continue to honor all transfers, withdrawals, deposits, and other transactions on the account until the Credit Union learns of an account owner’s death. Once the Credit Union learns of an account owner’s death, the Credit Union may pay checks or honor payments or transfer orders authorized by the deceased member for a period of ten (10) days unless the Credit Union receives instructions from any person claiming an interest in the account to stop payment on the checks or other items. You agree that the Credit Union can require that anyone who claims funds in the account after your death to indemnify the Credit Union for any losses from honoring that claim.
Individual Business Accounts. An individual account is an account owned by one depositor including any individual or sole proprietor qualified for membership with us. If the account is an individual account, the interest of a deceased individual owner will pass, subject to applicable law, to the payable-on-death (POD) beneficiary or to the owner’s estate, if applicable. This transfer of interest will be subject to other provisions of this Agreement that govern: (1) our protection for honoring transfer and withdrawal requests of an owner or owner’s agent before we receive notice of an owner’s death; (2) any security interest or pledge granted by the account owner; and (3) our statutory lien and setoff rights.
Individual Business Accounts. An individual ac- count is an account owned by one individual deposi- tor including any sole proprietor qualified for Credit Union membership. If the account is an individual account, the interest of a deceased individual will pass, subject to applicable law, to the decedent’s estate. We may require any claimant to the account to produce certain documents before releasing the funds to the account. The Credit Union may continue to honor all transfers, withdrawals, deposits and other transac- tions on the account until the Credit Union learns of an account owner’s death. Once the Credit Union learns of an account owner’s death, the Credit Union may pay checks or honor payments or transfer orders authorized by the deceased member for a period of ten
