Death of an account holder Sample Clauses

Death of an account holder. 7.1 If the account is in your sole name and you die, your personal representatives will have the option of keeping your account open until the end of the deposit term, or withdrawing your deposit plus any interest earned up to the date of closure of your account without charge.
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Death of an account holder. You agree to notify the Branch promptly in writing if any owner or authorized signer on your Account dies or is declared incompetent by a court of appropriate jurisdiction. If any owner of an Account dies, we must be provided with a certified copy of the death certificate and any other document which in our sole discretion may be necessary to establish the ownership of the Account before we release the balance in the account to any survivor or to the estate of the decedent or to any beneficiary or beneficiaries of any pay-on- death account, in-trust for account or transfer-on-death securities account. However, you agree that we shall have no obligation to release such balance or any part thereof or any other asset of the decedent, unless and until we are fully satisfied, in our sole judgment, that we will have no resulting liability or potential liability for any estate tax, gift tax or similar tax under the federal law of the United States or under any other applicable law of any jurisdiction.
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Death of an account holder. If an account holder dies, we must be provided with a certified copy of the death certificate and any other required documents before we release the balance of the account.
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Related to Death of an account holder

  • Death of Account Owner We may continue to honor all transfer orders, withdrawals, deposits, and other transactions on an account until we know of a member's death. Once we know of a member's death, we may pay checks or drafts or honor other payments or transfer orders authorized by the deceased member for a period of ten (10) days after that date unless we receive instructions from any person claiming an interest in the account to stop payment on the checks, drafts, or other items. We may require anyone claiming a deceased owner's account funds to indemnify us for any losses resulting from our honoring that claim. This Agreement will be binding upon any heirs or legal representatives of any account owner.

  • Death of an Employee All rights to accident pay will cease on the death of an Employee.

  • Individual Account An individual account is an account owned by you alone, which you as the account owner use during your lifetime.

  • Death of Member Upon the death of the Member, the Company shall be dissolved. By separate written documentation, the Member shall designate and appoint the individual who will wind down the Company’s business and transfer or distribute the Member's Interests and Capital Account as designated by the Member or as may otherwise be required by law.

  • Individual Accounts An individual account is an account owned by one depositor including any individual, corporation, partnership, trust, or other organization qualified for Credit Union membership. If the account is an individual account, the interest of a deceased individual owner will pass, subject to applicable law, to the decedent’s estate or payable on death (“POD”) beneficiary, if applicable.

  • Participant See Section 7(a) hereof.

  • Termination by Participant Participant may terminate the Agreement as follows:

  • Termination of Account We may terminate your account at any time without notice to you or may require you to close your account and apply for a new account if: (1) there is a change in owners or authorized signers; (2) there has been a forgery or fraud reported or committed involving your account; (3) there is a dispute as to the ownership of the account or of the funds in the account; (4) any checks or drafts are lost or stolen; (5) there are excessive returned unpaid items not covered by an overdraft protection plan; (6) there has been any misrepresentation or any other abuse of any of your accounts; or (7) we reasonably deem it necessary to prevent a loss to us. You may terminate an individual account by giving written notice. We reserve the right to require the consent of all owners to terminate a joint account. We are not responsible for payment of any check, draft, withdrawal, transaction, or other item after your account is terminated; however, if we pay an item after termination, you agree to reimburse us.

  • New Individual Accounts The following rules and procedures apply for purposes of identifying U.S. Reportable Accounts among Financial Accounts held by individuals and opened on or after July 1, 2014 (“New Individual Accounts”).

  • Termination for fault 19.3.1 The Commonwealth may terminate this Agreement by notice where the Grantee has:

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