Common use of Other Nonpersonal Accounts Clause in Contracts

Other Nonpersonal Accounts. If the account is opened as an estate account, trust account, guardianship or conservatorship account, or other similar type of account, FSB reserves the right to require such documentation or authorizations as it may reasonably deem necessary or appropriate to satisfy FSB that the person requesting or directing the withdrawal of funds from the account has the authority to do so. If you establish the account as “in trust for” (“ITF”) or as trustee for a third person without presenting formal trust documentation, then FSB may treat the account as a Xxxxxx Trust (a type of informal trust) or as otherwise required by law. The relationship between you and FSB for an estate, trust, guardian, conservatorship, or other similar account is a debtor/creditor relationship. FSB has no duty to monitor the account or the status of the designated fiduciary(ies) or beneficiary(ies). If more than one person is named as fiduciary on the account, FSB shall act on the signature of any one of them, without regard to the terms of any document governing the fiduciary’s actions.

Other Nonpersonal Accounts. If the account is opened as an estate account, trust account, guardianship or conservatorship account, or other similar type of account, FSB reserves the right to require such documentation or authorizations as it may reasonably deem necessary or appropriate to satisfy FSB that the person requesting or directing the withdrawal of funds from the account has the authority to do so. If you establish the account as “in trust for” (“ITF”) or as trustee for a third person without presenting formal trust documentation, then FSB may treat the account as a Xxxxxx Trust (a type of informal trust) or as otherwise required by law. The relationship between you and FSB for an estate, trust, guardian, conservatorship, or other similar account is a debtor/creditor relationship. FSB has no duty to monitor the account or the status of the designated fiduciary(iesfiduciary(ies) or beneficiary(iesbeneficiary(ies). If more than one person is named as fiduciary fiduciary on the account, FSB shall act on the signature of any one of them, without regard to the terms of any document governing the fiduciary’s fiduciary's actions.

Other Nonpersonal Accounts. If the account is opened as an estate account, trust account, guardianship or conservatorship account, or other similar type of account, FSB reserves the right to require such documentation or authorizations as it may reasonably deem necessary or appropriate to satisfy FSB that the person requesting or directing the withdrawal of funds from the account has the authority to do so. If you establish the account as “in trust for” (“ITF”) or as trustee for a third person without presenting formal trust documentation, then FSB may treat the account as a Xxxxxx Trust (a type of informal trust) or as otherwise required by law. The relationship between you and FSB for an estate, trust, guardian, conservatorship, or other similar account is a debtor/creditor relationship. FSB has no duty to monitor the account or the status of the designated fiduciary(iesfiduciary(ies) or beneficiary(iesbeneficiary(ies). If more than one person is named as fiduciary fiduciary on the account, FSB shall act on the signature of any one of them, without regard to the terms of any document governing the fiduciaryfiduciary’s actions.