Common use of Transfer of Ownership and Assignment Clause in Contracts

Transfer of Ownership and Assignment. You may not transfer or assign ownership of the account without FSB’s written consent. FSB may require that the account be closed and a new account opened in order to transfer or assign ownership. A transfer that results from death, incompetence, marriage, divorce, attachment, or otherwise by operation of law will not be binding on FSB until FSB has received sufficient documentation of the transfer, as determined by FSB. FSB is not liable for the validity or sufficiency of any assignment of the account. An assignment will be binding on FSB only if it is in a written instrument signed by all account holders and after FSB acknowledges the assignment in writing. The assignment will be subordinate to and subject to any right of FSB to collect from the account any debt you owe to FSB. FSB may require that any assignment be notarized. Authorized Signers and Agents Your account opening record, a signature on a check you have used to make a withdrawal from the account, or other documentation provided to FSB identifies who is authorized to make withdrawals, write checks, transfer funds, stop payments, obtain ancillary services, and otherwise give FSB instructions regarding your account. FSB may act on the signature or instruction of any one of the authorized signers on your account.

Transfer of Ownership and Assignment. You may not transfer or assign ownership of the account without FSB’s written consent. FSB may require that the account be closed and a new account opened in order to transfer or assign ownership. A transfer that results from death, incompetence, marriage, divorce, attachment, or otherwise by operation of law will not be binding on FSB until FSB has received sufficient sufficient documentation of the transfer, as determined by FSB. FSB is not liable for the validity or sufficiency sufficiency of any assignment of the account. An assignment will be binding on FSB only if it is in a written instrument signed by all account holders and after FSB acknowledges the assignment in writing. The assignment will be subordinate to and subject to any right of FSB to collect from the account any debt you owe to FSB. FSB may require that any assignment be notarized. Authorized Signers and Agents Your account opening record, a signature on a check you have used to make a withdrawal from the account, or other documentation provided to FSB identifies identifies who is authorized to make withdrawals, write checks, transfer funds, stop payments, obtain ancillary services, and otherwise give FSB instructions regarding your account. FSB may act on the signature or instruction of any one of the authorized signers on your account. Certificates of Deposit (CD) Your CD is a non-certificated certificate of deposit, which means that you will receive a deposit receipt rather than an actual certificate. Your CD is not negotiable, not assignable, and not transferable except on the books of FSB. See FSB’s current Deposit Rates document, Account Schedule, and Service Fee Schedule for initial deposit and minimum balance requirements, current annual percentage yields, and other fees or terms that may affect your account.

Transfer of Ownership and Assignment. You may not transfer or assign ownership of the account without FSB’s written consent. FSB may require that the account be closed and a new account opened in order to transfer or assign ownership. A transfer that results from death, incompetence, marriage, divorce, attachment, or otherwise by operation of law will not be binding on FSB until FSB has received sufficient sufficient documentation of the transfer, as determined by FSB. FSB is not liable for the validity or sufficiency sufficiency of any assignment of the account. An assignment will be binding on FSB only if it is in a written instrument signed by all account holders and after FSB acknowledges the assignment in writing. The assignment will be subordinate to and subject to any right of FSB to collect from the account any debt you owe to FSB. FSB may require that any assignment be notarized. Authorized Signers and Agents Your account opening record, a signature on a check you have used to make a withdrawal from the account, or other documentation provided to FSB identifies identifies who is authorized to make withdrawals, write checks, transfer funds, stop payments, obtain ancillary services, and otherwise give FSB instructions regarding your account. FSB may act on the signature or instruction of any one of the authorized signers on your account. Certificates of Deposit (CD) Your CD is a non-certificated certificate of deposit, which means that you will receive a deposit receipt rather than an actual certificate. Your CD is not negotiable, not assignable, and not transferable except on the books of FSB. See FSB's current Deposit Rates document, Account Schedule, and Service Fee Schedule for initial deposit and minimum balance requirements, current annual percentage yields, and other fees or terms that may affect your account.