Common use of Single Accounts Clause in Contracts

Single Accounts. A Single Account is an Account that is owned by one member of the Credit Union. A Single Account may be owned by any person, corporation, partnership, limited liability company, limited liability partnership, trust, estate, association or organization. Upon the death of a Single Account owner and our receipt of any required documentation, the sums on deposit may be released to the personal representative of your estate, P.O.D. beneficiaries if you have designated any, or otherwise according to Wisconsin law. Multiple Party Accounts. A Multiple Party Account is an Account that is owned by a member of the Credit Union together with one or more other persons or entities. In this agreement, Multiple Party Accounts include Joint Accounts and Marital Accounts. Unless the signature card clearly indicates that more than one signature is required, any Multiple Party Account owner is authorized to act for the other owner(s), and on his/her own may transact any business on the Account including but not limited to withdrawing, transferring, or closing the Account, or pledging as security all or any part of the shares of the Account without the consent of the other Account owner(s). The Credit Union shall have not duty to notify any other Multiple Party Account owner of another owner's actions.

Single Accounts. A Single Account is an Account that is owned by one member of the Credit Union. A Single Account may be owned by any person, corporation, partnership, limited liability company, limited liability partnership, trust, estate, association or organization. Upon the death of a Single Account owner and our receipt of any required documentation, the sums on deposit may be released to the personal representative of your estate, P.O.D. beneficiaries if you have designated any, or otherwise according to Wisconsin law. Multiple Party Accounts. A Multiple Party Account is an Account that is owned by a member of the Credit Union together with one or more other persons or entities. In this agreement, Multiple Party Accounts include Joint Accounts and Marital Accounts. Unless the signature card clearly indicates that more than one signature is required, any Multiple Party Account owner is authorized to act for the other owner(s), and on his/her own may transact any business on the Account including but not limited to withdrawing, transferring, or closing the Account, or pledging as security all or any part of the shares of the Account without the consent of the other Account owner(s). The Credit Union shall have not no duty to notify any other Multiple Party Account owner of another owner's actions.