Common use of Personal accounts Clause in Contracts

Personal accounts. Where only one individual is designated or appears on a signature card as the owner of such account, then we may treat the account as a solely owned account. In the event of your death or adjudication of incompetence or interdiction, you agree that we have the right to honor checks or other items drawn against your account until ten days after we receive actual written notice of your death, incompetence or interdiction. We may restrict access to your account upon notice of your death or adjudication of incompetence or interdiction until the appropriate documentation reasonably requested by us, including a death certificate, is provided by your executor, administrator or to the representative of your estate or person. To the extent and under the circumstances permitted by the laws of your State, upon receipt of actual written notice and proof of your death, the balance in your account will be paid to the person or entity you designate to "pay on death" or you designate as a POD payee or beneficiary on your account's signature card or on a form provided by us. Unless your signature card or account opening documents so designate, where two or more individuals are designated or appear on a signature card as owners of such account, then as between them, we will treat the owners as joint tenants with the right of survivorship. For any joint account where a joint owner has died, we reserve the right not to release funds in the account until all legal documents are delivered to us. You agree to notify us of the death of any joint other owner and to reimburse us for any tax we may be required to pay by reason of our payment or release of funds in the account to you. Any joint owner may close the account. We may, at our sole discretion, act upon such other instructions of any joint owner, including withdrawing funds or adding or removing any signature or other joint owner to or from the account, without the signature of the other joint owner(s). However, we are under no obligation to observe such instruction, and may do so or refuse to do so without liability. We may also pay all or any part of the funds in the account to any of the joint owners upon request of that joint owner or to a court or governmental agency upon receipt of a garnishment order, tax levy or similar legal process identifying any one of the joint owners. All joint account owners will be jointly and severally liable for all overdrawn accounts, whether or not that particular owner initiated a withdrawal request or other transaction drawn against insufficient funds which we honored, withdrew funds credited to an account which were made available based upon a deposited item which was subsequently returned unpaid, or whether such owner received benefit from a transaction which resulted, directly or indirectly, in such overdraft. If the account is opened as an estate account, trust account, guardianship or conservatorship account, or other similar type of account, we reserve the right to require such documents or authorizations as we may reasonably deem necessary or appropriate to satisfy us that the person requesting or directing the withdrawal of funds held in the account has the authority to withdraw such funds. We shall be held harmless for refusing to pay or release funds in the account where such refusal is based on the failure of the person requesting or directing the withdrawal to provide documents or authorizations requested by us. If you establish your account as "in trust for" ("ITF") or as trustee for a third person without presenting formal trust documents, then we may treat the account as a Xxxxxx Trust account or as otherwise required by the laws of your state. P.O.D. (Payable on Death) and Xxxxxx Trust accounts are accounts which are payable on request to a depositor during the depositor’s lifetime and upon the depositor’s death to one or more designated beneficiaries or payees, or which are payable to two or more depositors during their lifetime and upon death of all depositors to one or more designated beneficiaries or payees. Prior to the death of all depositors to the account, the Bank may pay funds in accordance with your account agreement along with this Deposit Account Disclosure Statement and Agreement. When the Bank has received proof satisfactory to the Bank of the death of all depositors to the account who, pursuant to the terms of the account agreement, were required to predecease the beneficiary or payee, the Bank may pay any funds remaining on deposit after payment of any amounts due Bank from depositor that accrue or related to a transaction initiated by depositor prior to such depositor’s death in the account to the beneficiary or payee. If there is more than one beneficiary or payee, the Bank shall not, unless the account agreement otherwise provides, pay to any such beneficiary or payee more than that amount which is obtained by dividing the total of the funds on deposit in the account by the number of beneficiaries or payees, but the Bank require, at its option, joint instructions of, or payments to, all beneficiaries or payees. We may, at its option require you to close your account and open a new one if you wish to change (add, delete or change allocation among) any death beneficiary and in such case, if Bank no longer offers the account type which you currently have, you may be required to select a new account type, which may include different fees, interest, and other features. Without limiting the foregoing, with respect to NY accounts, Bank, will require your account to be closed and a new account opened to add or delete beneficiaries or to change any allocation among beneficiaries. If you have opened an account as custodian for a minor beneficiary under a state's Uniform Transfers/ Gifts to Minors Act, you will not be allowed to pledge the account as collateral for a personal loan to you or cash checks against the account, except as otherwise permitted by law. Notwithstanding anything to the contrary, the relationship between you and the Bank is one of debtor/creditor, not fiduciary, even if the account is titled as a "fiduciary" account with that role being played by you. You agree that if your account is identified as one offered only to individuals or unincorporated non-business associations, it shall not be used for a business purpose.

Personal accounts. Where If your account type is personal (individual or joint), you agree not to use it for business purposes. Ownership of your account is determined by the most current signature card. However, we are authorized to rely on the account ownership information contained in our system unless we are notified that the most current signature card and the system contains different information. INDIVIDUAL ACCOUNTS – When only one individual person is designated or appears on a signature card listed as the owner of such an account, then we may treat the account as a solely owned account. In the event of your death or adjudication of incompetence or interdiction, you agree that we have the right to honor checks or other items drawn against your account until ten days after we receive actual written notice of your death, incompetence or interdiction. We may restrict access to your account upon notice of your death or adjudication of incompetence or interdiction until the appropriate documentation reasonably requested by us, including a death certificate, is provided by your executor, administrator or to the representative of your estate or person. To the extent and under the circumstances permitted by the laws of your State, upon receipt of actual written notice and proof of your death, the balance in your account will be paid to the person or entity you designate to "pay on death" or you designate as a POD payee or beneficiary on your account's signature card or on a form provided by us. Unless your signature card or account opening documents so designate, where two or more individuals are designated or appear on a signature card as owners of such account, then as between them, we will treat the owners account as joint tenants with the right of survivorshipan individual account. For any joint account where a joint owner has died, we reserve the right not to release funds in If the account until all legal documents are delivered owner dies, the interest passes, subject to us. You agree applicable law, to notify us of the death of any joint other owner and to reimburse us for any tax we may be required to pay by reason of our payment or release of funds in the account owner’s estate or Payable on Death (POD) beneficiary/payee or trust beneficiary, subject to you. Any joint other provisions of this Agreement governing our protection for honoring transfer and withdrawal requests of an owner may close or owner’s agent prior to notice of an owner’s death, any security interest or pledge granted by the account. We may, at our sole discretion, act upon such other instructions of any joint account owner, including withdrawing and our statutory lien rights. JOINT ACCOUNTS - If your account is owned jointly, then all funds or adding or removing on deposit are owned by any signature or other joint owner to or from the account, without the signature of the other joint owner(s). However, we are under no obligation to observe such instruction, and may do so or refuse to do so without liability. We may also pay all or any part of the funds in the account to any of the joint owners upon request of that joint owner or to a court or governmental agency upon receipt of a garnishment order, tax levy or similar legal process identifying any one of the joint owners. We can release or pay any amount on deposit in a joint account to any owner. We can honor checks, withdrawals, orders or requests from any account owner. All account owners are liable to Frontwave for any Overdrafts that may occur on an account, regardless of whether or not a benefit occurred. Any owner may provide Frontwave written notice to freeze funds on deposit and we may, at our option, honor such written request. If we do, then the account will remain frozen until we receive subsequent written notice signed by all owners of the account as to a disposition of funds on deposit. Any funds on deposit may be utilized to satisfy any debt or garnishment of any owners of the account. It is the responsibility of joint account owners to determine any legal effects of opening and maintaining a joint account. TRUST ACCOUNTS – We will be abide by the terms of any separate agreement which clearly pertains to this account and which you file with us. Any additional consistent terms stated on this form will also apply. XXXXXX TRUST ACCOUNTS – If two or more of you create this type of account, you own the account jointly with right of survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and severally liable for all overdrawn accounts, whether or not that particular owner initiated a withdrawal request or other transaction drawn against insufficient funds which we honored, withdrew funds credited to an account which were made available based upon a deposited item which was subsequently returned unpaid, or whether such owner received benefit from a transaction which resulted, directly or indirectly, in such overdraft(2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account is opened as in equal shares, without right of survivorship. The person(s) creating either of these account types reserves the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the funds at any time. 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 require such any documents or authorizations as we may reasonably deem necessary or appropriate request to satisfy us that you are authorized to open and use the person requesting or directing account, including withdrawing the withdrawal of funds held in the account has the authority to withdraw such 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. POD DESIGNATIONS - A Payable on Death (POD) designation is an instruction to Frontwave that an individual or joint account so designated is payable to the owner(s) during his, her, or their lifetimes and, when the last account owner dies, is payable to all surviving POD beneficiaries/payees. Unless state law provides for different ownership or as permitted and documented by us, the beneficiaries/payees will own the funds jointly in equal shares without rights of survivorship when there is more than one surviving beneficiary/payee. Such designation shall not apply to Individual Retirement Accounts (IRAs). We are not obligated to notify any beneficiary/payee of the existence of any account nor the vesting of the beneficiary/payee’s interest in any account, except as otherwise provided by law. This paragraph does not apply to an account held on behalf of or in the name of a trust. FICTITIOUS BUSINESS NAME ACCOUNTS – If the name in which the account is held is fictitious, each account holder represents that one or more of the account holders have the right to use that name and have fulfilled all legal requirements for using and or doing business under that name. KIDS/TEEN ACCOUNTS – A kids account is an account for children ages 0-17. The child must be the primary owner of the account and a parent or legal guardian must be on the account as joint owner. The Social Security Number of the child must be presented at the time the account is opened. An adult (person over the age of 18) must be joint owner on a Kids Account. The account is subject to certain restrictions as to services and products. The adult assumes all responsibility and is liable for the account. The parent or legal guardian/joint owner is responsible for any losses that may occur on the account. Minors will not be held responsible for any losses that may occur on the account. The adult owner must be cleared through ChexSystems in order to qualify for a checking account. The adult joint owner creating the account reserves the right to: (1) change beneficiaries, if so named, (2) change account types, and (3) withdraw all or part of the account funds at any time. The adult is the only one who can initiate the checking account and order or reorder checks. The adult owner is the only one who can initiate the VISA Debit/ATM Card order, establish or change the velocity, order or reorder any card/plastic. Once the minor reaches the legal age of 18, a new Member Signature Card shall be held harmless signed. In addition, the standard VISA Debit/ATM Card will be issued at the time the minor turns 18. The adult owner will continue to remain liable for refusing to pay all balances, transactions and fees associated with all related share, checking, or release funds in the account where such refusal is based VISA Debit/ATM Card, as long as they are an owner on the failure of the person requesting or directing the withdrawal to provide documents or authorizations requested by usaccount. POD/BENEFICIARIES – If you establish your account as "in trust for" ("ITF") or as trustee for a third person without presenting formal trust documents, then we may treat the account as a Xxxxxx Trust account or as otherwise required by the laws of your state. P.O.D. (Payable on Death) and Xxxxxx Trust accounts are accounts which are payable on request to a depositor during the depositor’s lifetime and upon the depositor’s death to with one or more designated beneficiaries, we will pay the beneficiaries or payeesin equal shares unless otherwise designated. If we receive proof that you’ve died, or which are payable to two or more depositors during their lifetime and upon death we will pay the balance of all depositors to one or more designated beneficiaries or payees. Prior to the death of all depositors to the account, the Bank may pay funds in accordance with your account agreement along with this Deposit Account Disclosure Statement and Agreement. When the Bank has received proof satisfactory to the Bank of the death of all depositors to the account who, pursuant to the terms of the account agreement, were required to predecease the beneficiary or payee, the Bank may pay any funds remaining on deposit after payment of any amounts due Bank from depositor that accrue or related to a transaction initiated by depositor prior to such depositor’s death in the account to the beneficiary or payeebeneficiary/beneficiaries that you designated. If there is more than one beneficiary or payee, the Bank Any POD designation shall not, unless the account agreement otherwise provides, pay not apply to Individual Retirement Accounts (IRAs). We are not obligated to notify any such beneficiary or beneficiary/payee more than that amount which is obtained by dividing the total of the funds on deposit existence of any account nor the vesting of the beneficiary/payee’s interest in the account by the number of beneficiaries or payees, but the Bank require, at its option, joint instructions of, or payments to, all beneficiaries or payees. We may, at its option require you to close your account and open a new one if you wish to change (add, delete or change allocation among) any death beneficiary and in such case, if Bank no longer offers the account type which you currently have, you may be required to select a new account type, which may include different fees, interest, and other features. Without limiting the foregoing, with respect to NY accounts, Bank, will require your account to be closed and a new account opened to add or delete beneficiaries or to change any allocation among beneficiaries. If you have opened an account as custodian for a minor beneficiary under a state's Uniform Transfers/ Gifts to Minors Act, you will not be allowed to pledge the account as collateral for a personal loan to you or cash checks against the account, except as otherwise permitted provided by law. Notwithstanding anything to the contrary, the relationship between you and the Bank is one of debtor/creditor, not fiduciary, even if the account is titled as a "fiduciary" account with that role being played by you. You agree that if your account is identified as one offered only to individuals or unincorporated non-business associations, it shall not be used for a business purpose.

Personal accounts. Where only one individual is designated or appears on a signature card as the owner of such account, then we may treat the account as a solely owned account. In the event of your death or adjudication of incompetence or interdiction, you agree that we have the right to honor checks or other items drawn against your account until ten days after we receive actual written notice of your death, incompetence or interdiction. We may restrict access to your account upon notice of your death or adjudication of incompetence or interdiction until the appropriate documentation reasonably requested by us, including a death certificate, is provided by your executor, administrator or to the representative of your estate or person. To the extent and under the circumstances permitted by the laws of your Statestate of residence, upon receipt of actual written notice and proof of your death, the balance in your account will be paid to the person or entity you designate to "pay on death" or you designate as a POD payee or beneficiary on your account's signature card or on a form provided by us. Unless your signature card or account opening documents so designate, where two or more individuals are designated or appear on a signature card as owners of such account, then as between them, we will treat the owners as joint tenants with the right of survivorship. For any joint account where a joint owner has died, we reserve the right not to release funds in the account until all legal documents are delivered to us. You agree to notify us of the death of any joint other owner and to reimburse us for any tax we may be required to pay by reason of our payment or release of funds in the account to you. Any joint owner may close the account. We may, at our sole discretion, act upon such other instructions of any joint owner, including withdrawing funds or adding or removing any signature or other joint owner to or from the account, without the signature of the other joint owner(s). However, we are under no obligation to observe such instruction, and may do so or refuse to do so without liability. We may also pay all or any part of the funds in the account to any of the joint owners upon request of that joint owner or to a court or governmental agency upon receipt of a garnishment order, tax levy or similar legal process identifying any one of the joint owners. All joint account owners will be jointly and severally liable for all overdrawn accounts, whether or not that particular owner initiated a withdrawal request or other transaction drawn against insufficient funds which we honored, withdrew funds credited to an account which were made available based upon a deposited item which was subsequently returned unpaid, or whether such owner received benefit from a transaction which resulted, directly or indirectly, in such overdraft. If the account is opened as an estate account, trust account, guardianship or conservatorship account, or other similar type of account, we reserve the right to require such documents or authorizations as we may reasonably deem necessary or appropriate to satisfy us that the person requesting or directing the withdrawal of funds held in the account has the authority to withdraw such funds. We shall be held harmless for refusing to pay or release funds in the account where such refusal is based on the failure of the person requesting or directing the withdrawal to provide documents or authorizations requested by us. If you establish your account as "in trust for" ("ITF") or as trustee for a third person without presenting formal trust documents, then we may treat the account as a Xxxxxx Trust account or as otherwise required by the laws of your statestate of residence. P.O.D. (Payable on Death) and Xxxxxx Trust accounts are accounts which are payable on request to a depositor during the depositor’s lifetime and upon the depositor’s death to one or more designated beneficiaries or payees, or which are payable to two or more depositors during their lifetime and upon death of all depositors to one or more designated beneficiaries or payees. Prior to the death of all depositors to the account, the Bank may pay funds in accordance with your account agreement (which should specify beneficiaries or payees) along with this Deposit Account Disclosure Statement and Agreement. When the Bank has received proof it deems satisfactory to the Bank of the death of all depositors to the account who, pursuant to the terms of the account agreement, were required to predecease the beneficiary or payee, the Bank may pay any funds remaining on deposit after payment of any amounts due Bank from depositor that accrue or related to a transaction initiated by depositor prior to such depositor’s death in the account to the beneficiary or payee. If there is more than one beneficiary or payee, the Bank shall not, unless the account agreement otherwise provides, pay to any such beneficiary or payee more than that amount which is obtained by dividing the total of the funds on deposit in the account by the number of beneficiaries or payees, but the Bank require, at its option, joint instructions of, or payments to, all beneficiaries or payees. We may, at its option require you to close your account and open a new one if you wish to change (add, delete or change allocation among) any death beneficiary and in such case, if Bank no longer offers the account type which you currently have, you may be required to select a new account type, which may include different fees, interest, and other features. Without limiting the foregoing, with respect to NY accounts, Bank, Bank will require your account to be closed and a new account opened to add or delete beneficiaries or to change any allocation among beneficiaries. If you have opened an account as custodian for a minor beneficiary under a state's Uniform Transfers/ Gifts to Minors Act, the account is controlled by you, but the funds are owned by the minor. If you resign, are removed or die, Bank will recognize the designated successor custodian. You can designate a person or entity as a successor custodian to act when you resign, become legally incapacitated, or die. You will not be allowed to pledge the account as collateral for a personal loan to you or cash checks against the account, except as otherwise permitted by law. Notwithstanding anything to the contrary, the relationship between you and the Bank is one of debtor/creditor, not fiduciary, even if the account is titled as a "fiduciary" account with that role being played by you. You agree that if your account is identified as one offered only to individuals or unincorporated non-business associations, it shall not be used for a business purpose.

Personal accounts. Where only one individual is designated or appears on a signature card as the owner of such account, then we may treat the account as a solely owned account. In the event of your death or adjudication of incompetence or interdiction, you agree that we have the right to honor checks or other items drawn against your account until ten days after we receive actual written notice of your death, incompetence or interdiction. We may restrict access to your account upon notice of your death or adjudication of incompetence or interdiction until the appropriate documentation reasonably requested by us, including a death certificate, is provided by your executor, administrator or to the representative of your estate or person. To the extent and under the circumstances permitted by the laws of your State, upon receipt of actual written notice and proof of your death, the balance in your account will be paid to the person or entity you designate to "pay on death" or you designate as a POD payee or beneficiary on your account's signature card or on a form provided by us. Unless your signature card or account opening documents so designate, where two or more individuals are designated or appear on a signature card as owners of such account, then as between them, we will treat the owners as joint tenants with the right of survivorship. For any joint account where a joint owner has died, we reserve the right not to release funds in the account until all legal documents are delivered to us. You agree to notify us of the death of any joint other owner and to reimburse us for any tax we may be required to pay by reason of our payment or release of funds in the account to you. Any joint owner may close the account. We may, at our sole discretion, act upon such other instructions of any joint owner, including withdrawing funds or adding or removing any signature or other joint owner to or from the account, without the signature of the other joint owner(s). However, However we are under no obligation to observe such instruction, and may do so or refuse to do so without liability. We may also pay all or any part of the funds in the account to any of the joint owners upon request of that joint owner or to a court or governmental agency upon receipt of a garnishment order, tax levy or similar legal process identifying any one of the joint owners. All joint account owners will be jointly and severally liable for all overdrawn accounts, whether or not that particular owner initiated a withdrawal request or other transaction drawn against insufficient funds which we honored, withdrew funds credited to an account which were made available based upon a deposited item which was subsequently returned unpaid, or whether such owner received benefit from a transaction which resulted, directly or indirectly, in such overdraft. If the account is opened as an estate account, trust account, guardianship or conservatorship account, or other similar type of account, we reserve the right to require such documents or authorizations as we may reasonably deem necessary or appropriate to satisfy us that the person requesting or directing the withdrawal of funds held in the account has the authority to withdraw such funds. We shall be held harmless for refusing to pay or release funds in the account where such refusal is based on the failure of the person requesting or directing the withdrawal to provide documents or authorizations requested by us. If you establish your account as "in trust for" ("ITF") or as trustee for a third person without presenting formal trust documents, then we may treat the account as a Xxxxxx Trust account or as otherwise required by the laws of your state. P.O.D. (Payable on Death) and Xxxxxx Trust accounts are accounts which are payable on request to a depositor during the depositor’s lifetime and upon the depositor’s death to one or more designated beneficiaries or payees, or which are payable to two or more depositors during their lifetime and upon death of all depositors to one or more designated beneficiaries or payees. Prior to the death of all depositors to the account, the Bank may pay funds in accordance with your account agreement along with this Deposit Account Disclosure Statement and Agreement. When the Bank has received proof satisfactory to the Bank of the death of all depositors to the account who, pursuant to the terms of the account agreement, were required to predecease the beneficiary or payee, the Bank may pay any funds remaining on deposit after payment of any amounts due Bank from depositor that accrue or related to a transaction initiated by depositor prior to such depositor’s death in the account to the beneficiary or payee. If there is more than one beneficiary or payee, the Bank shall not, unless the account agreement otherwise provides, pay to any such beneficiary or payee more than that amount which is obtained by dividing the total of the funds on deposit in the account by the number of beneficiaries or payees, but the Bank require, at its option, joint instructions of, or payments to, all beneficiaries or payees. We may, at its option require you to close your account and open a new one if you wish to change (add, delete or of change allocation among) any death beneficiary and in such case, if Bank no longer offers the account type which you currently have, you may be required to select a new account type, which may include different fees, interest, interest and other features. Without limiting the foregoing, with respect to NY accounts, Bank, will require your account to be closed and a new account opened to add or delete beneficiaries or to change any allocation among beneficiaries. If you have opened an account as custodian for a minor beneficiary under a state's Uniform Transfers/ Gifts to Minors Act, you will not be allowed to pledge the account as collateral for a personal loan to you or cash checks against the account, except as otherwise permitted by law. Notwithstanding anything to the contrary, the relationship between you and the Bank is one of debtor/creditor, not fiduciary, even if the account is titled as a "fiduciary" account with that role being played by you. You agree that if your account is identified as one offered only to individuals or unincorporated non-business associations, it shall not be used for a business purpose.

Personal accounts. Where If your account type is personal (individual or joint), you agree not to use it for business purposes. Ownership of your account is determined by the most current signature card. However, we are authorized to rely on the account ownership information contained in our system unless we are notified that the most current signature card and the system contains different information. INDIVIDUAL ACCOUNTS – When only one individual person is designated or appears on a signature card listed as the owner of such an account, then we may treat the account as a solely owned account. In the event of your death or adjudication of incompetence or interdiction, you agree that we have the right to honor checks or other items drawn against your account until ten days after we receive actual written notice of your death, incompetence or interdiction. We may restrict access to your account upon notice of your death or adjudication of incompetence or interdiction until the appropriate documentation reasonably requested by us, including a death certificate, is provided by your executor, administrator or to the representative of your estate or person. To the extent and under the circumstances permitted by the laws of your State, upon receipt of actual written notice and proof of your death, the balance in your account will be paid to the person or entity you designate to "pay on death" or you designate as a POD payee or beneficiary on your account's signature card or on a form provided by us. Unless your signature card or account opening documents so designate, where two or more individuals are designated or appear on a signature card as owners of such account, then as between them, we will treat the owners account as joint tenants with the right of survivorshipan individual account. For any joint account where a joint owner has died, we reserve the right not to release funds in If the account until all legal documents are delivered owner dies, the interest passes, subject to us. You agree applicable law, to notify us of the death of any joint other owner and to reimburse us for any tax we may be required to pay by reason of our payment or release of funds in the account owner’s estate or Payable on Death (POD) beneficiary/payee or trust beneficiary, subject to you. Any joint other provisions of this Agreement governing our protection for honoring transfer and withdrawal requests of an owner may close or owner’s agent prior to notice of an owner’s death, any security interest or pledge granted by the account. We may, at our sole discretion, act upon such other instructions of any joint account owner, including withdrawing and our statutory lien rights. JOINT ACCOUNTS - If your account is owned jointly, then all funds or adding or removing on deposit are owned by any signature or other joint owner to or from the account, without the signature of the other joint owner(s). However, we are under no obligation to observe such instruction, and may do so or refuse to do so without liability. We may also pay all or any part of the funds in the account to any of the joint owners upon request of that joint owner or to a court or governmental agency upon receipt of a garnishment order, tax levy or similar legal process identifying any one of the joint owners. We can release or pay any amount on deposit in a joint account to any owner. We can honor checks, withdrawals, orders or requests from any account owner. All account owners are liable to Frontwave for any overdrafts that may occur on an account, regardless of whether or not a benefit occurred. Any owner may provide Frontwave written notice to freeze funds on deposit and we may, at our option, honor such written request. If we do, then the account will remain frozen until we receive subsequent written notice signed by all owners of the account as to a disposition of funds on deposit. Any funds on deposit may be utilized to satisfy any debt or garnishment of any owners of the account. It is the responsibility of joint account owners to determine any legal effects of opening and maintaining a joint account. TRUST ACCOUNTS – We will be abide by the terms of any separate agreement which clearly pertains to this account and which you file with us. Any additional consistent terms stated on this form will also apply. XXXXXX TRUST ACCOUNTS – If two or more of you create this type of account, you own the account jointly with right of survivorship. Beneficiaries cannot withdraw unless: (1) all persons creating the account die, and severally liable for all overdrawn accounts, whether or not that particular owner initiated a withdrawal request or other transaction drawn against insufficient funds which we honored, withdrew funds credited to an account which were made available based upon a deposited item which was subsequently returned unpaid, or whether such owner received benefit from a transaction which resulted, directly or indirectly, in such overdraft(2) the beneficiary is then living. If two or more beneficiaries are named and survive the death of all persons creating the account, such beneficiaries will own this account is opened as in equal shares, without right of survivorship. The person(s) creating either of these account types reserves the right to: (1) change beneficiaries, (2) change account types, and (3) withdraw all or part of the funds at any time. 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 require such any documents or authorizations as we may reasonably deem necessary or appropriate request to satisfy us that you are authorized to open and use the person requesting or directing account, including withdrawing the withdrawal of funds held in the account has the authority to withdraw such 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. POD DESIGNATIONS - A Payable on Death (POD) designation is an instruction to Frontwave that an individual or joint account so designated is payable to the owner(s) during his, her, or their lifetimes and, when the last account owner dies, is payable to all surviving POD beneficiaries/payees. Unless state law provides for different ownership or as permitted and documented by us, the beneficiaries/payees will own the funds jointly in equal shares without rights of survivorship when there is more than one surviving beneficiary/payee. Such designation shall not apply to Individual Retirement Accounts (IRAs). We are not obligated to notify any beneficiary/payee of the existence of any account nor the vesting of the beneficiary/payee’s interest in any account, except as otherwise provided by law. This paragraph does not apply to an account held on behalf of or in the name of a trust. FICTITIOUS BUSINESS NAME ACCOUNTS – If the name in which the account is held is fictitious, each account holder represents that one or more of the account holders have the right to use that name and have fulfilled all legal requirements for using and or doing business under that name. KIDS/TEEN ACCOUNTS – A kids account is an account for children ages 0-17. The child must be the primary owner of the account and a parent or legal guardian must be on the account as joint owner. The Social Security Number of the child must be presented at the time the account is opened. An adult (person over the age of 18) must be joint owner on a Kids Account. The account is subject to certain restrictions as to services and products. The adult assumes all responsibility and is liable for the account. The parent or legal guardian/joint owner is responsible for any losses that may occur on the account. Minors will not be held responsible for any losses that may occur on the account. The adult owner must be cleared through ChexSystems in order to qualify for a checking account. The adult joint owner creating the account reserves the right to: (1) change beneficiaries, if so named, (2) change account types, and (3) withdraw all or part of the account funds at any time. The adult is the only one who can initiate the checking account and order or reorder checks. The adult owner is the only one who can initiate the VISA Debit/ATM Card order, establish or change the velocity, order or reorder any card/plastic. Once the minor reaches the legal age of 18, a new Member Signature Card shall be held harmless signed. In addition, the standard VISA Debit/ATM Card will be issued at the time the minor turns 18. The adult owner will continue to remain liable for refusing to pay all balances, transactions and fees associated with all related share, checking, or release funds in the account where such refusal is based VISA Debit/ATM Card, as long as they are an owner on the failure of the person requesting or directing the withdrawal to provide documents or authorizations requested by usaccount. POD/BENEFICIARIES – If you establish your account as "in trust for" ("ITF") or as trustee for a third person without presenting formal trust documents, then we may treat the account as a Xxxxxx Trust account or as otherwise required by the laws of your state. P.O.D. (Payable on Death) and Xxxxxx Trust accounts are accounts which are payable on request to a depositor during the depositor’s lifetime and upon the depositor’s death to with one or more designated beneficiaries, we will pay the beneficiaries or payeesin equal shares unless otherwise designated. If we receive proof that you’ve died, or which are payable to two or more depositors during their lifetime and upon death we will pay the balance of all depositors to one or more designated beneficiaries or payees. Prior to the death of all depositors to the account, the Bank may pay funds in accordance with your account agreement along with this Deposit Account Disclosure Statement and Agreement. When the Bank has received proof satisfactory to the Bank of the death of all depositors to the account who, pursuant to the terms of the account agreement, were required to predecease the beneficiary or payee, the Bank may pay any funds remaining on deposit after payment of any amounts due Bank from depositor that accrue or related to a transaction initiated by depositor prior to such depositor’s death in the account to the beneficiary or payeebeneficiary/beneficiaries that you designated. If there is more than one beneficiary or payee, the Bank Any POD designation shall not, unless the account agreement otherwise provides, pay not apply to Individual Retirement Accounts (IRAs). We are not obligated to notify any such beneficiary or beneficiary/payee more than that amount which is obtained by dividing the total of the funds on deposit existence of any account nor the vesting of the beneficiary/payee’s interest in the account by the number of beneficiaries or payees, but the Bank require, at its option, joint instructions of, or payments to, all beneficiaries or payees. We may, at its option require you to close your account and open a new one if you wish to change (add, delete or change allocation among) any death beneficiary and in such case, if Bank no longer offers the account type which you currently have, you may be required to select a new account type, which may include different fees, interest, and other features. Without limiting the foregoing, with respect to NY accounts, Bank, will require your account to be closed and a new account opened to add or delete beneficiaries or to change any allocation among beneficiaries. If you have opened an account as custodian for a minor beneficiary under a state's Uniform Transfers/ Gifts to Minors Act, you will not be allowed to pledge the account as collateral for a personal loan to you or cash checks against the account, except as otherwise permitted provided by law. Notwithstanding anything to the contrary, the relationship between you and the Bank is one of debtor/creditor, not fiduciary, even if the account is titled as a "fiduciary" account with that role being played by you. You agree that if your account is identified as one offered only to individuals or unincorporated non-business associations, it shall not be used for a business purpose.