Death of an Account Owner. You irrevocably waive the right to make a testamentary disposition of any account with MSUFCU now or in the future. You agree that upon your death, your account will be payable in accordance with any existing account designations and the terms of the Agreement. Upon the death of an account owner, funds in the account shall be payable to multiple party account owners or any POD beneficiaries in accordance with this Agreement and Michigan law. We may honor checks or accept payments or transfers drawn by you until 10 days after we learn of your death. We require any person claiming an interest in the deceased member’s accounts to provide us proof of his/her right to the account and may require that person to indemnify us from any losses incurred as a result of honoring that claim. The conditions of this Membership and Account Agreement shall be binding upon any heirs, personal representatives, and successors of any account owner after his or her death.
Death of an Account Owner. In the event of the death of any Account owner, the Successors to the Account owner shall immediately give Xxxxxx Xxxxx written notice of the death of any of the owners. The estate of any or each deceased Account owner, as well as each surviving Account owner, shall be liable, jointly and severally, to Xxxxxx Xxxxx for any debt or loss in this Account resulting from the completion of transactions initiated prior to Xxxxxx Xxxxx’ receipt of such a written notice of death, incurred in the liquidation of the Account, or taxes or other expenses becoming a lien or charge against the Account as the result of the death of any owner (or through the exercise by his or her estate or other representatives of any rights in the Account). This provision shall not release the decedent’s estate from any liability provided for in this Agreement. Xxxxxx Xxxxx may, before or after receiving written notice of the death of an Account owner, initiate proceedings, require documents, retain assets and/or restrict transactions in the Account as it may deem advisable to protect Xxxxxx Xxxxx against any tax, liability, penalty or loss under any present or future laws, regulations or business practices. I agree that in the event of my death, incompetency or disability, I and/or my Successors hold Xxxxxx Xxxxx harmless from any and all liability it may incur for continuing to operate as though I were alive and competent until Xxxxxx Xxxxx is notified in writing by Successors of such death or incompetency. Notwithstanding the foregoing, in the event of my death, incompetency or disability, Xxxxxx Xxxxx may liquidate, restrict or terminate services to my Account without prior notice to or demand upon my Successors.
Death of an Account Owner. In the event of the death of a member, the funds in any deposit account shall automatically pass to any joint account owner(s) unless we are required to remit the funds to someone else by law, subject to the Credit Union’s right of offset to extinguish or satisfy any existing or future obligation that the deceased member may have with us. In the event that there are no surviving joint account owners, then the funds on deposit (after any required offset) shall be disbursed to the designated Payable On Death (POD) payee(s) unless we are required to remit the funds to someone else by law (as provided in paragraph 4 above). In the event that there are no joint account owners and no designated POD payee(s), the funds may only be disbursed in accordance with Colorado Probate Law and the policies and procedures of the Credit Union. The Credit Union shall have the right to retain any funds on deposit in a deceased member’s account(s) until such time as satisfactory arrangements have been made for payment in full of any obligations of the deceased member, and until the Credit Union has been provided documentation satisfactory to the Credit Union supporting disbursement of the funds. We may require that anyone claiming a deceased owner’s account funds 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. The vesting of any interest in any sum payable to a POD beneficiary shall also be subject to the right of off- set between the Credit Union and any POD beneficiary.” We may pay checks or honor payments or transfer orders authorized by a member for a period of ten (10) days after the date of that member’s death unless we receive instructions from any person claiming an interest in the account to stop payment on the checks or other items. Colorado Probate Statutes require that no probated estate (court or informal, supervised or unsupervised) be settled before six months from the date of the appointment of the Personal Representative. If the account is settled under the Small Estates Act, then the closing of the account must be accomplished by the close of the dividend period following the date of settlement.
Death of an Account Owner. In the event of the death of any account owner, the Successors, as defined below, to the account owner shall immediately give Xxxxxx Xxxxx written notice of the death of any of the owners. The estate of any or each deceased account owner, as well as each surviving account owner, shall be liable, jointly and severally (in Québec, solidarily), to Xxxxxx Xxxxx for any debt or loss in this account resulting from the completion of transactions initiated prior to Xxxxxx Xxxxx’ receipt of such a written notice of death, incurred in the liquidation of the account, or taxes or other expenses becoming a lien or charge against the account as the result of the death of any owner (or through the exercise by his or her estate or other representatives of any rights in the account). This provision shall not release the decedent’s estate from any liability provided for in this Agreement. Xxxxxx Xxxxx may, before or after receiving written notice of the death of an account owner, initiate proceedings, require documents, retain assets and/or restrict transactions in the account as it may deem advisable to protect Xxxxxx Xxxxx against any tax, liability, penalty or loss under any present or future laws, regulations or business practices.
Death of an Account Owner. You irrevocably waive the right to make a testamentary disposition of any account with the Credit Union, now and in the future. You agree that upon your death, your account will be payable in accordance with any existing account designations and the terms of this Agreement. Upon the death of an Account Owner, funds in the account will be payable to multiple-party Account Owners or any POD or trust beneficiaries in accordance with this Agreement and applicable state law. The Credit Union may continue to honor all transfers, withdrawals, deposits, and other transactions on the account until the Credit Union learns of the Account Owner's death. Once the Credit Union is notified of an Account Owner's death, the Credit Union may in its discretion restrict account transactions or may pay checks or honor other payments or transfer orders authorized by the deceased Account Owner for a period of ten (10) days unless the Credit Union receives instructions from an authorized person to stop payment on the checks or other items. You agree that the Credit Union can require anyone who claims funds in your account after your death to indemnify the Credit Union for any losses resulting from honoring that claim. This Agreement is binding on any heirs or representatives of any Account Owner.
Death of an Account Owner. The Credit Union may continue to honor all transfers, withdrawals, deposits and other transactions on the account until the Credit Union is notified of the account owner’s death. Once the Credit Union is notified of an account owner’s death, the Credit Union may pay drafts or honor other payments or transfer orders authorized by the deceased account owner for a period of ten (10) days unless the Credit Union receives instructions from any person claiming an interest in the account to stop payment on the drafts or other items. You agree the Credit Union can require that anyone who claims funds in your account after your death indemnify the Credit Union for any losses resulting from honoring that claim. This Agreement will not be binding upon any heirs or legal representatives of any account owner.
Death of an Account Owner. You irrevocably waive the right to make a testamentary disposition of any account with MSUFCU now or in the future. You agree that upon your death, your account will be payable in accordance with any existing account designations and the terms of the Membership and Account Agreement. Upon the death of a primary account owner, funds in the account shall be payable to surviving joint account owners or any surviving POD beneficiaries in accordance with this Membership and Account Agreement and Michigan law. If surviving joint account owners exist, they can elect to receive the funds in the form of a check or establish their own membership with us and have the funds deposited to their separate account. We may honor checks or accept payments or transfers drawn by you until 10 days after we learn of your death. We require any person claiming an interest in the deceased member’s accounts to provide us proof of their right to the account and may require that person to indemnify us from any losses incurred as a result of honoring that claim. The conditions of this Membership and Account Agreement shall be binding upon any heirs, personal representatives, and successors of any account owner after their death.
Death of an Account Owner. In the event of the death of any account owner, the Successors, as defined below, to the account owner shall immediately give EJTC written notice of the death of any of the owners. The estate of any or each deceased account owner, as well as each surviving account owner, shall be liable, jointly and severally, to EJTC for any debt or loss in this account resulting from the completion of transactions initiated prior to EJTC’s receipt of such a written notice of death, incurred in the liquidation of the account, or taxes or other expenses becoming a lien or charge against the account as the result of the death of any owner (or through the exercise by his or her estate or other representatives of any rights in the account). This provision shall not release the decedent’s estate from any liability provided for in this Agreement. EJTC may, before or after receiving written notice of the death of an account owner, initiate proceedings, require documents, liquidate or retain assets, and/or restrict transactions in the account as it may deem advisable to protect EJTC against any tax, liability, penalty or loss under any present or future laws, regulations or business practices.
Death of an Account Owner a. In the event of the death of a member, the funds in any deposit account shall automatically pass to any joint account owner(s), subject to the Credit Union’s right of offset. In the event that there are no joint account owners, then the funds on deposit (after any required offset) shall be disbursed to the last designated POD (Payable On Death) payee(s). If there is more than one POD payee, the funds shall be disbursed to the named POD payees pro rata. In the event that there are no joint account owners and no designated POD payee(s), the funds may only be disbursed in accordance with the policies and procedures of the Credit Union consistent with applicable probate laws of the jurisdiction in which the decedent was a resident, or, it the application of such probate law would not, in our opinion afford the Credit Union sufficient protection in a given case, then we may elect to require compliance with any more protective provision under the probate laws then in effect in Maryland. The Credit Union shall have the right to retain any funds on deposit in a deceased member’s account(s) until such time as satisfactory arrangements have been made for payment of any obligations of the deceased member, and until the Credit Union has been provided documentation satisfactory to the Credit Union supporting disbursement of the funds. We may require that anyone claiming a deceased owner’s account funds 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 Account Owner. Please note that MUCU does not accept xxxxx or provide legal advice. We therefore encourage you to seek answers from a trusted legal professional. Once MUCU has received a deceased member notification, the account and documentation provided will be reviewed and the notifier will be contacted by a member representative. You irrevocably waive the right to make testamentary disposition of any account with the credit union now or in the future. You agree that upon your death, your account will be payable in accordance with any existing account designations and the terms of the Agreement. Upon the death of an account owner, funds in the account shall be payable to multiple party account owners or any POD beneficiaries in accordance with this Agreement and Michigan law. We may, after the date of your death, honor checks or accept payments or transfers drawn by you unless ordered to stop payment by the Personal Representative or other appropriate person claiming an interest in the account. We require any person claiming an interest in the deceased member’s accounts to provide us proof of their right to the account and may require that person to indemnify us from any losses incurred as a result of honoring that claim. The conditions of this Membership and Account Agreement shall be binding upon any heirs, personal representatives, and successors of any account owner after his or her death.
