Common use of No Pledging Clause in Contracts

No Pledging. If you pledge all or a portion of your ▇▇▇ as security for a loan, the portion pledged will be treated as a distribution to you, and the taxable portion will be included in gross income, and may be subject to the 10 percent early-distribution penalty tax.

Appears in 3 contracts

Sources: Customer Agreement, Customer Agreement, Customer Agreement