Other Fiduciary Accounts. If you open an estate account, trust account, guardianship or conservatorship account, or other similar type of account, we reserve the right to request any documents we reasonably require to satisfy us that you are authorized to open and use the account, including withdrawing the funds. We do not have to permit any withdrawal from the account until we receive all requested documents. We have no fiduciary duties to you as the trustee, executor, guardian, or conservator, or to the beneficial owners of the account.
Other Fiduciary Accounts. LCCU may also offer guardianship accounts and estate accounts (including Receipt and Agreement accounts), VA Federal Fiduciary accounts and Social Security Administration Representative Payee accounts. To open these accounts, you must provide documentation of your appointment as the fiduciary from the appropriate authority. We may limit certain withdrawals and transfers from VA Federal Fiduciary accounts, Social Security Administration Representative Payee accounts and guardianship accounts. For example, you may not be able to complete point of sale debits or ATM withdrawals.
Other Fiduciary Accounts. Individuals may open a separate membership account as a Fiduciary for another named Person or Estate. For example, an account can be opened by a Conservator, Guardian, Representative Payee, etc. These accounts are referred to collectively as “Fiduciary Accounts”, and the individuals or estates for whose benefit they are opened are referred to collectively as “Protected Persons.” The individual opening the account will be referred to as the “Fiduciary.” The Fiduciary Account will qualify for membership provided the Protected Person is eligible for membership. In order to open a Fiduciary Account, you agree to provide Letters of Authority naming you as Conservator, Guardian, or Representative Payee. The Credit Union reserves the right to refuse to open a Fiduciary Account when such documentation does not derive from the authority of the laws of the State of Michigan or Social Security Administration Rules and Regulations. If you are a Conservator, you represent the following: The Letters of Conservatorship presented are in full force and effect and have not been revoked or amended in any manner which would cause the representations made herein to be inaccurate or incorrect The named Conservator has qualified, is acting as Conservator, and is authorized to open this account and complete other documents for the receipt of financial services from the Credit Union If you are a Guardian, you represent the following: No Conservator has been appointed with regard to the Protected Person The Letters of Guardianship presented are in full force and effect and have not been revoked or amended in any manner which would cause the representations made herein to be inaccurate or incorrect The named Guardian has qualified, is acting as Guardian, and is authorized to open this account and complete other documents for the receipt of financial services from the Credit Union If you are a Representative Payee, you represent the following: The authority granted to you by the Social Security Administration to act as Representative Payee is in full force and effect and has not been revoked or amended in any manner which would cause the representations made herein to be inaccurate or incorrect The named Representative Payee has qualified, is acting as Representative Payee, and is authorized to open this account and complete other documents for the receipt of financial services from the Credit Union The Credit Union may rely on these representations and any instructions...
Other Fiduciary Accounts. Upon our approval, you may open other fiduciary accounts in your capacity as representative payee of social security benefits, trustee of testamentary, living, or other revocable or irrevocable trusts, or legal guardian or conservator (in each case, the "Fiduciary"). As the Fiduciary, you (a) must sign an Account Card and provide any other evidence of authority to make decisions for the beneficiary that the Credit Union may require; (b) hereby warrant that a valid trust, guardianship, conservatorship, or otherwise, as applicable, has been created, that it currently exists, and that the beneficiary or beneficiaries are eligible for membership in the Credit Union;
Other Fiduciary Accounts. LGFCU may open guardianship accounts and estate accounts (including Receipt and Agreement accounts), VA Federal Fiduciary accounts and Social Security Administration Representative Payee accounts. To open these accounts, you must provide documentation of your appointment as the fiduciary from the appropriate authority. We may limit certain withdrawals and transfers from VA Federal Fiduciary accounts, Social Security Administration Representative Payee accounts and guardianship accounts. For example, you may not be able to complete point of sale debits or ATM withdrawals.
Other Fiduciary Accounts. If the Account Ownership designation shows that the Account was established as a Fiduciary Account, you warrant that you are authorized to open a fiduciary account and understand that such accounts will only be opened by the Credit Union if the documentation presented by you to the Credit Union is in a manner acceptable to our underwriting policies. It is your responsibility to determine and understand any legal effects related to this type of account. You hereby agree to fully indemnify and hold the credit union harmless from any and all claims, suits, actions, awards, damages, judgments, costs, charges, and expenses, including court costs and attorney’s fees and any and all liability, loss, and damage of any nature whatsoever that the credit union shall or may sustain resulting from the establishment, maintenance, and transaction of any business related to the account(s) established by you. You agree to pay any necessary expenses, attorney’s fees or costs incurred by the Credit Union in the enforcement of this indemnification provision.
Other Fiduciary Accounts. These Accounts are held by one (1) or more persons who have been entrusted with the funds and are authorized to act for the benefit of another person, sometimes called the beneficiary, pursuant to a written trust agreement, court order or other source of authority. No trustee or other fiduciary such as an executor, administrator, guardian or personal representative may engage in transactions involving the Account until such person has signed the Signature Card provided by the Bank and has furnished the Bank with a copy of any trust agreement, court order or other source of authority, that authorizes the person to act. If you are a trustee or other fiduciary, you represent and warrant that: (i) you are a duly appointed and acting fiduciary; (ii) you have full power and authority to make this Agreement (including all requisite authorizations, waivers and consents) and to take all actions provided for in this Agreement with respect to the Account; (iii) the terms of this Agreement do not violate any provision of any statute, governing instrument, court order or other document governing your authorities and actions; and (iv) if the Account is for a trust, the trust is a domestic United States trust. You will notify us in writing when there is any change to your powers and authorities, provided your authority will change only after we have had a reasonable opportunity to act. We have no duty or obligation to verify or update any of your powers and authorities or to receive copies of any statute, governing instrument, court order or other documentation evidencing such powers and authorities. If permitted by the statute, governing instrument, court order or other document granting your powers and authorities, you may delegate your powers and authorities, as may be limited by us in our sole discretion, to a third party acting as your agent. We may limit the powers and authorities you may delegate to an agent and we may limit you to only one (1) agent whose appointment must be joined by all the fiduciary Account owners, if a joint Account. Any such delegation must be in a form satisfactory to us, indemnify and hold us harmless from and against any actions we have taken or your agent has taken regarding your Account, and be evidenced on our records. We reserve the right to require such documents or authorizations we deem reasonably necessary to satisfy us that the person requesting or directing withdrawal of funds held in the Account has such authority. We will not ...
Other Fiduciary Accounts. If the account is designated to be a conservatorship, guardianship, decedent estate, Social Security Administration Representative Xxxxx, Veterans Administration Legal Custodian or any other fiduciary form of ownership, each person signing the Signature Card or Membership Application represents and agrees that they are fully authorized to act in the fiduciary capacity and have, or will furnish any documents the Credit Union requests to confirm the signer's authority to act in the stated fiduciary capacity.
Other Fiduciary Accounts. Upon our approval, you may open other fiduciary accounts in your capacity as representative payee of social security benefits, trustee of testamentary, living, or other revocable or irrevocable trusts, or legal guardian or conservator (in each case, the “Fiduciary”). As the Fiduciary, you (a) must sign an Account Card and provide any other evidence of authority to make decisions for the beneficiary that the Credit Union may require; (b) hereby warrant that a valid trust, guardianship, conservatorship, or otherwise, as applicable, has been created, that it currently exists, and that the beneficiary or beneficiaries are eligible for membership in the Credit Union; (c) hereby agree to notify the Credit Union in writing if a change of representative payee, trustee, guardian, or conservator occurs; and (d) agree to indemnify and defend the Credit Union and hold it harmless from and against any liability, claim, damage, or loss arising as a result of unauthorized acts of any Fiduciary or former Fiduciary or acts of any Fiduciary on which the Credit Union relies before notice of any change to the account, the identity of the Fiduciary, or revocation of the Fiduciary relationship. The Credit Union does not act as a Fiduciary and is under no obligation to inquire as to the powers or duties of any Fiduciary. The Credit Union may withhold payment of funds to any party until proper evidence of authority is provided. The Credit Union may rely on the directions of any one Fiduciary until a written notice of revocation or a new Account Card is signed by the Account Owner or Account Owners, as applicable. Funds may be released to any one Fiduciary acting alone or with a co-Fiduciary. This Agreement is binding on the trust, representative- payee relationship, guardian-ship, or conservatorship, as applicable, and all Fiduciaries, successor Fiduciaries, and beneficiaries of the trust, representative-payee relationship, guardianship, or conservatorship, as applicable.
