Planholder definition
Examples of Planholder in a sentence
The Agent shall give the Planholder written notice of the successor trustee within 30 days of the appointment.
The Trustee and the Agent shall be entitled to rely upon instructions received from the Planholder or from any person designated in writing, in accordance with applicable laws, by the Planholder to give instructions on behalf of the Planholder or from any person purporting to be the Planholder or such designated person, as if they were from the Planholder.
The Agent shall prepare periodic statements of the account for the Planholder in accordance with the rules, regulations and practices of the Investment Industry Regulatory Organization of Canada.
In the event the assets of the Fund shall be insufficient to indemnify the Trustee fully in any such regard, by establishing the Plan the Planholder agrees to indemnify and hold the Trustee harmless for any such costs, expenses, charges or liabilities.
In the case where the Planholder transfers the Plan to another financial institution, or to another line of business within BMO, the Planholder is solely responsible for ensuring the new Agent is aware of any designation of beneficiaries.