Common use of Rights of Survivors Clause in Contracts

Rights of Survivors. (a) For an Account that requires Joint Approval: (1) the Account Owner, together with the Survivor, must authorize changes in the Beneficiary, Account Owner and Survivor; voluntary terminations; and refunds associated with an involuntarily terminated Account by submitting a Request; (2) the consent or authorization of the Survivor is not required for the Account Owner to authorize other Account changes and withdrawals; and (3) the Account Owner and Survivor each will enjoy a right of survivorship for each other.