Trustee and Other Fiduciary Accounts. These Accounts are held by one or more people who have been entrusted with the funds and are authorized to act for the benefit of another person, sometimes called the beneficiary, pursuant to a written trust agreement, court order or other authority. We will not advise you as to any legal, regulatory or other fiduciary obligations you may have and we will not monitor in any way your exercise of fiduciary powers and duties. We have no duty or agreement to monitor the application of any assets held for the Account or delivered on your direction to ensure that you are acting for the benefit of the beneficiaries. The relationship between you and the Bank is one of debtor/creditor, not fiduciary, even if the Account is titled as a “fiduciary” Account with that role being played by you. We will not provide periodic statements or annual summaries to anyone other than you, including anyone holding a beneficial interest in the Account, nor will we provide additional information you may be required to provide under Applicable Law or court order, or to any auditor, court or government agency. If you are a trustee or other fiduciary, you represent and warrant that:
Trustee and Other Fiduciary Accounts. These Accounts are held by one or more people who have been entrusted with the funds and are authorized to act for the benefit of another person, sometimes called the beneficiary, pursuant to a written trust agreement, court order or other authority. We will not advise you regarding any legal, regulatory or other fiduciary obligations you may have. We will not provide periodic statements or annual summaries to anyone other than you, including anyone holding a beneficial interest in the Account, nor will we provide additional information you may be required to provide under Applicable Law or court order, or to any auditor, court or government agency. If you are a trustee or other fiduciary, you represent and warrant that:
Trustee and Other Fiduciary Accounts. These Accounts are held by one or more people who have been entrusted with the funds and are authorized to act for the benefit of another person, sometimes called the beneficiary, pursuant to a written trust agreement, court order or other authority. No trustee or other fiduciary such as an executor, administrator, guardian or personal representative may engage in transactions involving the Account unless they have executed a signature card and given us a copy of a trust agreement, court order or other authority that authorizes the person to act. If you are a trustee or other fiduciary, you represent and warrant that: (i) you are a legally appointed and acting fiduciary; (ii) you have full power and authority to make this Agreement (including all requisite authorizations, waivers and consents) and to take all actions provided for in this Agreement with respect to the Account; (iii) the terms of this Agreement do not violate any provision of any statute, governing instrument, court order or other document governing your authority and actions; and (iv) if the Account is for a trust, the trust is a domestic United States trust. You will notify us in writing if and when there is any change to your powers and authorities, provided your authority will change only after we have had a reasonable opportunity to act. We have no duty or obligation to verify or update any of your powers or authorities or to receive copies of any statute, governing instrument, court order or other documentation evidencing such powers and authorities. If legally permitted, you may delegate your powers and authorities to a third party acting as your agent. We may in our sole discretion limit the powers and authorities you may delegate to an agent, and we may limit you to only one agent, whose appointment must be approved by all fiduciary Account owners. Such delegation must be made in a form satisfactory to us, kept in our records, and indemnify and hold us harmless for any actions we or your agent take regarding your Account. If a person requests withdrawal of funds held in the Account, we reserve the right to require evidence that the person has authority to do so. We will not advise you regarding any legal, regulatory or other fiduciary obligations you may have, and we will not monitor your exercise of fiduciary duties. We have no obligation to monitor Account activity to ensure that you are acting for the benefit of the Account’s beneficiaries. We will not provide periodic statements or annual...
