Common use of Multiple Signatures Clause in Contracts

Multiple Signatures. We are not required to comply with any multiple-signature requirement, either on personal or business accounts, even if your signature card specifies that multiple signatures are required, or you have otherwise instructed us to do so. A multiple-signature requirement is for your internal control purposes only. If your account requires two (2) or more signatures on any item drawn on the account or limits the maximum amount for which any person can sign an item, then you acknowledge that any such requirements are solely for your own internal control purposes. You agree that the Bank will not be liable for paying any item lacking the required number of signatures or in an amount exceeding the maximum limit assigned to the signer.