Telephone Redemptions Clause Samples
The Telephone Redemptions clause allows investors or account holders to request the redemption of their shares or assets over the phone. Typically, this clause outlines the procedures and security measures required to verify the caller’s identity, such as providing account information or using a personal identification number. By enabling redemptions via telephone, this clause offers convenience and flexibility to investors while also addressing the need for safeguards against unauthorized transactions.
Telephone Redemptions. If I elected to have the ability to redeem Investments via telephone, I understand that the telephone redemption privilege will apply to my Custodial ESA Account. If I have telephone redemption privileges, I agree that neither the Custodian, the Sponsor, nor their transfer agent, their agents, officers, trustees, directors or employees will be liable for any loss, liability or expense for acting, or refusing to act on instructions given under the telephone redemption privileges that are reasonably believed to be genuine and I accept the risk of loss.
Telephone Redemptions. If I elected to have the ability to redeem Investments via telephone, I understand that the telephone redemption privilege will apply to my Custodial ESA Account. If I have telephone redemption privileges, I agree that neither the Custodian, the Sponsor, nor their transfer agent, their agents, officers, trustees, directors or employees will be liable for any loss, liability or expense for acting, or refusing to act on instructions given under the telephone redemption privileges that are reasonably believed to be genuine and I accept the risk of loss. Involuntary Liquidations and Distributions: I have read Article X, Section J. of the ▇▇▇▇▇▇▇▇▇ ESA Custodial Agreement. I acknowledge that certain circumstances beyond the control of the Custodian may occur, which result in a liquidation of Mutual Funds that are Eligible Investment in which the ▇▇▇▇▇▇▇▇▇ ESA Account is invested, or which result in the liquidation of Investments of the ▇▇▇▇▇▇▇▇▇ ESA Account. I acknowledge that at Article X, Section J. of the ▇▇▇▇▇▇▇▇▇ ESA Custodial Agreement, I have authorized the Custodian, following such occurrences, to act in its discretion with regard to the disposition of the liquidation proceeds if it does not receive clear instructions regarding the placement of the liquidation proceeds that it can practicably carry out, including distributing the liquidation proceeds to the Designated Beneficiary.