Common use of Single Party Accounts Clause in Contracts

Single Party Accounts. An account with only one owner is defined as a single party account. An owner is an individual who is eligible for membership. If the account owner dies, the ownership of the account passes to the decedent’s estate, Payable on Death (POD) beneficiary/payee, or trust beneficiary, subject to other terms of this Membership and Account Agreement and applicable law relating to the processing of payments, transfers, and withdrawal requests of an owner, or owner’s agent, before we are notified of an owner’s death.

Single Party Accounts. An account with only one owner is defined as a A single party account. An owner account is an individual who is eligible account owned by one member, including any individual, partnership, or other organization qualified for Credit Union membership. If the account owner dies, the ownership of the account passes interest passes, subject to applicable law, to the decedent’s estate, designated Payable on Death (POD) beneficiary/payee, or trust beneficiary, subject to other terms provisions of this Membership and Account Agreement and applicable law relating to the processing of payments, transfers, governing our protection for honoring transfer and withdrawal requests of an owner, owner or owner’s agent, before we are notified agent prior to notice of an owner’s death. If there is no Payable on Death beneficiary listed on the account, the account interest shall pass to the decedent’s estate, subject to our rights as noted in this agreement.

Single Party Accounts. An account with only one owner is defined as a A single party account. An owner account is an individual who is eligible account owned by one member (individual, corporation, partnership, trust or other organization) qualified for credit union membership. If the account owner dies, the ownership of the account passes interest passes, subject to applicable law, to the decedent’s estate, estate or Payable on Death (POD) beneficiary/payee, or beneficiary /or trust beneficiary, subject to other terms provisions of this Membership and Account Agreement and applicable law relating to the processing of payments, transfers, governing our protection for honoring transfer and withdrawal requests request of an owner, or owner of owner’s agent, before we are notified agent prior to notice of an owner’s death.

Single Party Accounts. An account with only one owner is defined as a single party account. An owner is an individual who is eligible for membership. If the account owner dies, the ownership of the account passes to the decedent’s estate, Payable on Death (POD) beneficiary/payee, or trust beneficiary, subject to other terms of this Membership and Account Agreement and applicable law relating to the processing of payments, transfers, and withdrawal requests of an owner, or owner’s agent, before we are notified of an owner’s death.

Single Party Accounts. An account with only one owner is defined as a single party account. An owner is an individual who is eligible for membership. If the account owner dies, the ownership of the account passes to the decedent’s estate, Payable on Death (POD) beneficiary/beneficiary/ payee, or trust beneficiary, subject to other terms of this Membership and Account Agreement and applicable law relating to the processing of payments, transfers, and withdrawal requests of an owner, or owner’s agent, before we are notified of an owner’s death.

Single Party Accounts. An account with only one owner is defined as a single single-party account. An owner is an individual who is eligible for membership. If the account owner dies, the ownership of remaining funds in the account passes will be paid to the decedent’s estate, Payable on Death (POD) beneficiary/payee, or trust beneficiary, subject to other terms of this Membership and Account Agreement and applicable law relating to the processing of payments, transfers, and withdrawal requests of an owner, or owner’s agent, before we are notified of an owner’s death.

Single Party Accounts. An account with only one owner is defined as a single party account. An owner is an individual who is eligible for membershipfrom all owners authorizing any material changes to the account. If we are informed, in writing, of a disagreement between account owners, or if there is a conflict in directions between owners, on how to handle an account, we may place a hold on all funds in the account owner diesaccount, close the ownership of the account passes account, or require a court order or written permission from all owners before taking any action with respect to the decedent’s estate, Payable on Death (POD) beneficiary/payee, or trust beneficiary, subject to other terms of this Membership and Account Agreement and applicable law relating to the processing of payments, transfers, and withdrawal requests of an owner, or owner’s agent, before we are notified of an owner’s deathaccount.