Common use of PAYABLE-ON-DEATH STATUS Clause in Contracts

PAYABLE-ON-DEATH STATUS. If the Account Designation shows a Payable- On-Death status, any Beneficiary has rights to the Account: (a) if the Beneficiary is a natural person, only if the Beneficiary is alive and only if You and any joint Owners are deceased; (b) if the Beneficiary is a charity or other non-profit organization, only if the charity or non-profit organization is in operation as a validly constituted, registered and/or licensed entity under applicable state law, and You and any joint Owners are deceased.

Appears in 4 contracts

Sources: Membership Agreement, Membership Agreements, Membership Agreements

PAYABLE-ON-DEATH STATUS. If the Account Designation shows a Payable- Onpayable- on-Death death status, any Beneficiary has rights to the Account: (a) if the Beneficiary is a natural person, only if the Beneficiary is alive and only if You and any joint Owners are deceased; (b) if the Beneficiary is a charity or other non-profit organization, only if the charity or non-profit organization is in operation as a validly constituted, registered and/or licensed entity under applicable state law, and You and any joint Owners are deceased.. Upon Your death and the death

Appears in 2 contracts

Sources: Membership Agreements, Membership Agreements

PAYABLE-ON-DEATH STATUS. If the Account Designation shows a Payable- Onpayable-Death on- death status, any Beneficiary has rights to the Account: (a) if the Beneficiary is a natural person, only if the Beneficiary is alive and only if You and any joint Owners are deceased; (b) if the Beneficiary is a charity or other non-profit organization, only if the charity or non-profit organization is in operation as a validly constituted, registered and/or licensed entity under applicable state law, and You and any joint Owners are deceased.. Upon Your death and the death of any joint Owners, the funds on deposit will

Appears in 1 contract

Sources: Agreements and Disclosures

PAYABLE-ON-DEATH STATUS. If the Account Designation shows a Payable- Onpayable-Death on- death status, any Beneficiary has rights to the Account: (a) if the Beneficiary is a natural person, only if the Beneficiary is alive and only if You and any joint Owners are deceased; (b) if the Beneficiary is a charity or other non-profit organization, only if the charity or non-profit organization is in operation as a validly constituted, registered and/or licensed entity under applicable state law, and You and any joint Owners are deceased.. Upon Your death and the death of any joint Owners, the funds on deposit

Appears in 1 contract

Sources: Membership Agreements

PAYABLE-ON-DEATH STATUS. If the Account Designation shows a Payable- Onpayable- on-Death death status, any Beneficiary has rights to the Account: (a) if the Beneficiary is a natural person, only if the Beneficiary is alive and only if You and any joint Owners are deceased; (b) if the Beneficiary is a charity or other non-profit organization, only if the charity or non-profit organization is in operation as a validly constituted, registered and/or licensed entity under applicable state law, and You and any joint Owners are deceased.. Upon Your death and the death of any joint

Appears in 1 contract

Sources: Agreements and Disclosures

PAYABLE-ON-DEATH STATUS. If the Account Designation shows a Payable- Onpayable-Death on- death status, any Beneficiary has rights to the Account: (a) if the Beneficiary is a natural person, only if the Beneficiary is alive and only if You and any joint Owners are deceased; (b) if the Beneficiary is a charity or other non-profit organization, only if the charity or non-profit organization is in operation as a validly constituted, registered and/or licensed entity under applicable state law, and You and any joint Owners are deceased.joint

Appears in 1 contract

Sources: Agreements and Disclosures

PAYABLE-ON-DEATH STATUS. If the Account Designation shows a Payable- On-Death status, any Beneficiary has rights to the Account: (a) if the Beneficiary is a natural person, only if the Beneficiary is alive and only if You and any joint Owners are deceased; (b) if the Beneficiary is a charity or other non-profit organization, only if the charity or non-profit organization is in operation as a validly constituted, registered and/or licensed entity under applicable state law, and You and any joint Owners are deceased.. Upon Your death and the death

Appears in 1 contract

Sources: Agreements & Disclosures