Account Holder Delegation of Investment Responsibility Sample Clauses

Account Holder Delegation of Investment Responsibility. The Custodian may, but is not required to, permit the Account Holder to delegate investment responsibility for the Account to another party. On a form acceptable to the Custodian, the Account Holder may designate an individual or entity as their Authorized Agent for the purpose of communicating investment instructions, including, but not limited to disbursement of funds/assets, to the Custodian on behalf of the Account Holder. In such case the Account Holder is responsibility for determining whether the Authorized Agent is qualified to act in that capacity. The Custodian shall assume that the Authorized Agent appointed by the Account Holder is at all times qualified to act. The Authorized Agent will be responsible for the execution of securities orders placed by the Account Holder on behalf of the Account or otherwise direct the investments of the Account. The Authorized Agent may require the Account Holder to sign an agreement which sets forth, among other things, the Custodian’s responsibilities, and the responsibility of the Account Holder regarding securities or other investment transactions for the Account. Any account maintained or investment purchased by an Authorized Agent on behalf of the Account must be registered as follows: ITrust Custodial Services, Custodian fbo (Account Holder’s name and XXX Account Number). Being appointed as an Authorized Agent shall also entitle the individual or entity to receive from or make inquiry of the Custodian any information pertinent to the Account, including, but not limited to, copies of Account statements, transaction history, and available cash balances. The Authorized Agent may be a registered representative of a broker/dealer organization, a registered investment advisor or advisory firm, or other person/entity as may be acceptable to the Account Holder. Such person shall be the Account Holder’s Authorized Agent, and not the Custodian’s. The Custodian shall construe any and all investment directions given by such Authorized Agent, whether written or oral, as having been authorized by the Account Holder. The Account Holder may remove the Authorized Agent only by written notice to the Custodian. Such removal shall be effective upon confirmation of receipt by the Custodian. The Authorized Agent’s removal shall not have the effect of canceling any notice, instruction, direction, or approval received by the Custodian before it confirms the notice of removal to the Account Holder. The Custodian shall follow eith...
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