Common use of Multiple Party Account Owner Liability Clause in Contracts

Multiple Party Account Owner Liability. If any item deposited in a multiple party account is returned unpaid, an account is overdrawn, or if the Credit Union does not receive final payment on any transaction, each of the multiple party account owners is jointly and severally liable to the Credit Union for the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of who created the overdraft, deposited or cashed the item or benefited from the transaction. If any account owner is indebted to the Credit Union, the Credit Union may enforce its rights against any or all funds in the multiple party account regardless of who contributed the funds to the account.

Appears in 2 contracts

Samples: Membership and Account Agreement, Membership and Account Agreement

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Multiple Party Account Owner Liability. If any item deposited in a multiple multiple-party account is returned unpaid, unpaid or an account is overdrawn, or if the Credit Union does not receive final payment on any transaction, each of the multiple multiple-party account owners Account Owner is jointly and severally liable to the Credit Union for the amount of the returned item, overdraft, item or unpaid amount overdraft and any charges, regardless of who created the overdraft, deposited or cashed the item item, or benefited from the transaction. If any account owner multiple- party Account Owner is indebted to the Credit UnionUnion such that the Credit Union has a lien against an account of that multiple-party Account Owner, the Credit Union may enforce its rights against any or all funds in the multiple any account of a multiple- party account Account Owner regardless of who contributed the funds to the multiple-party account.

Appears in 2 contracts

Samples: www.columbiacu.org, www.columbiacu.org

Multiple Party Account Owner Liability. If any item deposited in a multiple party account is returned unpaid, an account is overdrawn, or if the Credit Union does we do not receive final payment on any transaction, each of the multiple party account owners is jointly and severally liable to the Credit Union for the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of who created the overdraft, deposited deposited, or cashed the item or benefited from the transaction. If any account owner is indebted to the Credit Union, the Credit Union may enforce its rights against any or all funds in the multiple party owned by that account regardless of who contributed the funds to the accountowner.

Appears in 2 contracts

Samples: Account Agreement, Account Agreement

Multiple Party Account Owner Liability. If any item deposited in a multiple party account is returned unpaid, an account is overdrawn, or if the Credit Union does we do not receive final payment on any transaction, each of the multiple party account owners is jointly and severally liable to the Credit Union for the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of who created the overdraft, deposited or cashed the item item, or benefited from the transaction. If any account owner is indebted to the Credit Union, the Credit Union may enforce its rights against any or all funds in the multiple party account regardless of who contributed the funds to the account.

Appears in 2 contracts

Samples: www.tccu.net, Account Agreement

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Multiple Party Account Owner Liability. If any item deposited in a multiple party account is returned unpaid, an account is overdrawn, or if the Credit Union does we do not receive final payment on any transaction, each of the multiple party account owners is jointly and severally liable to the Credit Union for the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of who created the overdraft, deposited or cashed the item or benefited from the transaction. If any account owner is indebted to the Credit Union, the Credit Union may enforce its rights right against any or all funds in the multiple party account regardless of who contributed the funds to the account.

Appears in 1 contract

Samples: Membership and Account Agreements

Multiple Party Account Owner Liability. If any item deposited in a multiple party account is returned unpaid, an account is overdrawn, or if the Credit Union does we do not receive final payment on any transaction, each of the multiple party account owners is jointly and severally liable to the Credit Union for the amount of the returned item, overdraft, or unpaid amount and any charges, regardless of who created the overdraft, deposited or cashed the item or benefited from the transaction. If any account owner is indebted to the Credit Union, the Credit Union may enforce its rights against any or all funds in the multiple party owned by that account regardless of who contributed the funds to the accountowner.

Appears in 1 contract

Samples: www.hometowncu.coop

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