Joint Accounts with Right of Survivorship Sample Clauses

Joint Accounts with Right of Survivorship. If you open an account that is joint with right of survivorship, your rights and the rights of the other person(s) whose name(s) appear on the account are set forth in Section 36a-290 et. seq. of the Connecticut General Statutes. Briefly, these laws provide that the other person(s) named on the account may withdraw the entire balance in the account including deposits you have made and, upon your death, the funds in the account are held for the other person(s). For certain checks, such as a check payable by the government, the Bank may require all persons to whom the check is payable to endorse the check for deposit. The other person named on the account may also stop payment on a check and create an overdraft. Each joint account owner authorizes the bank to exercise setoff and enforce its security interest in the entire joint account, even though only one of the joint owners is the defaulting debtor and irrespective of who signed the check creating the overdraft. Each person named on a joint account can pledge or lien the entire account. The Bank will not accept an account for individuals that require the signatures of two or more persons for a withdrawal. The bank has the right to limit the number of owners on any account.
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Joint Accounts with Right of Survivorship. If this is an account in the names of two or more individuals, it will be a joint account with right of survivorship as defined in Section 36a-290 of the Connecticut General Statutes or the successor to that statute. This means that each of you is making this Agreement with each other and with us. Each of you agrees that all amounts deposited by any of you, as well as any interest earned or bonus payments earned, can be paid to any one or more of you while you are all alive. After the death of any one or more of you, we can pay any money in the account to any one or more of you who is then alive. Each of you gives to all of the others authority to deposit to the account any check payable to any one or more of you. For certain checks, such as a check payable by the government, we may require all persons to whom the check is payable to endorse the check for deposit. We do not allow an account held in the names of individuals to require more than one signature for withdrawals from the account. If we honor a check which was signed by any one or more of you and this causes an overdraft, each of you is liable for the over- draft, whether or not you signed the check or benefited from its proceeds. Each of you acts as the agent of the others. Each of you authorizes each to operate the account without the consent or approval of the others. We may act and rely on the instructions of one of you with- out liability to the others. For example, one of you may without the consent or approval of the others: • add additional persons as joint owners; • instruct us to stop payment on a check or other item that another wrote on the account; • obtain an ATM card or a debit card; • draw upon an overdraft or other line of credit connected to the account; • obtain information about the account, including trans actions conducted by another of you; • pledge the account as security for any debts; and • close the account. • Limitation on Number of Owners. We have the right to limit the number of owners on any account.
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Joint Accounts with Right of Survivorship. (Not as Tenants in Common). If your account is in two or more names, it is a joint account. Unless indicated otherwise, joint accounts are with the right of survivorship. This means that upon the death of any joint owner, the account balance is owned by the surviving owner(s), subject to our right to reimbursement from the account and our right of setoff and security interest in the account, and the estate of the deceased joint owner has no interest in the account. You understand and agree that we may honor checks drawn by and withdrawal requests from the surviving account owner(s). You understand that as a joint owner of the account, all of you are considered jointly and severally liable to us for the entire amount of any obligation (such as any fees on your account) or liability to us regarding the account, or for any Losses regarding the account. Each joint owner appoints the other(s) as his/her agent to deposit, withdraw and transfer funds, instruct us to stop payment on any check or item drawn on the account and to release or cancel stop payment requests (even if not initiated by him/her), obtain any and all information from us about the account, and conduct any and all other business on the joint account including, but not limited to, pledging or encumbering the account (where we may allow you to do so), or closing the account. Unless a joint account owner notifies us otherwise, you understand and agree that we may honor checks drawn by or withdrawal requests from any joint account owner. Acting as an agent, any joint owner can endorse checks, drafts or other payment orders made out to any other joint owner for deposit into the joint account. However, if a joint account owner provides us with such written notice we reserve the right to require the written authorization of any or all joint account owners for any future transactions on the account. Any joint owner or owners may appoint an attorney-in-fact for the account. All such appointments of an attorney-in-fact must be done in compliance with the requirements of the section of this Agreement dealing with Power of Attorney Appointments. One joint owner is not authorized to remove another joint owner from the title of the account without the written consent of the other joint owner(s) but may, however, withdraw all of the funds from the account or close the account at his/her discretion and without the permission, knowledge, or consent of any other joint owner. While you may request that the names o...
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Joint Accounts with Right of Survivorship. If this is an account in the names of two or more individuals, unless we specifically agree otherwise in writing, it will be a joint account with right of survivorship as defined in Section 36a-290 of the Connecticut General Statutes or the successor to that statute. This means that each of you is making this Agreement with each other and with us. Each of you agrees that all amounts deposited by any of you, as well as any interest earned or bonus payments earned, can be paid to any one or more of you while you are all alive. After the death of any one or more of you, we can pay any money in the account to any one or more of you who is then alive. Each of you gives to all of the others authority to deposit to the account any check payable to any one or more of you. For certain checks, such as a check payable by the government, we may require all persons to whom the check is payable to endorse the check for deposit. If we honor a check which was signed by any one or more of you, and this causes an overdraft, each of you is liable for the overdraft, whether or not you signed the check or benefited from its proceeds. (b) Limitation on Number of Owners. We have the right to limit the number of owners on any account.
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Joint Accounts with Right of Survivorship. Opening Your Account To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account or changes an existing account. What this means for you: When you open an account or make changes to an existing account, we will ask you for your name; residential address; date of birth; and Social Security number, driver’s license, or other identifying documents. Our policies may require additional information about you or any person associated with you or with the account when or after you open the account to assure that we comply with “Know Your Customer” requirements. We may restrict or close your account if we are unable to obtain information in order to satisfy our “Know Your Customer” requirements. By opening an account with us, you confirm that neither you nor any beneficial owner of any account is covered by any sanctions programs administered or enforced by the U.S. Department of the Treasury, Office of Foreign Asset Control. THE TYPE OF ACCOUNT OWNERSHIP MAY DETERMINE HOW YOUR FUNDS ARE PAID UPON YOUR DEATH, EVEN IF YOUR WILL STATES OTHERWISE. PLEASE CONSULT YOUR ESTATE PLANNING ADVISOR OR ATTORNEY ABOUT YOUR CHOICES. Ownership of your account is determined by the most current signature card. However, we are authorized to rely on the account ownership information contained in our deposit system, unless you notify us that the most current signature card and the deposit system contain different information. For example, if an individual is identified in our deposit system as an owner or co-owner of the account but does not sign any documentation related to the account (including, the signature card), we still may, in our sole discretion, treat them as an owner or co-owner of the account and will not be liable to anyone as a result. The following provisions explain the rules that apply to your account depending on the form of ownership and beneficiary designation, if any, specified on our account records (including, the signature card). We make no representations as to whether the ownership and beneficiary designations are appropriate or effective, except as they determine to whom we pay the account funds. When we list only one (1) individual as the owner of an account, we will treat the account as an individual account. By opening an individual account, you do not intend to create any right of survivors...
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Related to Joint Accounts with Right of Survivorship

  • Rights of Survivorship Unless otherwise stated on the Account Card or documented through the Credit Union’s online application and authentication process, a joint account includes rights of survivorship. This means that when one (1) owner dies, all sums in the account will pass to the surviving owner(s). For a joint account without rights of survivorship, the deceased owner’s interest passes to his or her estate. A surviving owner’s interest is subject to the Credit Union’s statutory lien for the deceased owner’s obligations and to any security interest or pledge granted by a deceased owner, even if a surviving owner did not consent to it.

  • NO RIGHT OF SURVIVORSHIP NON-TRANSFERABILITY You acknowledge, understand and agree that your account is non-transferable and any rights to your ID and/or contents within your account shall terminate upon your death. Upon receipt of a copy of a death certificate, your account may be terminated and all contents therein permanently deleted.

  • Survivorship The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations.

  • RIGHT OF ALLOTTEE TO USE COMMON AREAS AND FACILITIES SUBJECT TO PAYMENT OF TOTAL MAINTENANCE CHARGES The Allottee hereby agrees to purchase the [Apartment/Plot] on the specific understanding that is/her right to the use of Common Areas shall be subject to timely payment of total maintenance charges, as determined and thereafter billed by the maintenance agency appointed or the association of allottees (or the maintenance agency appointed by it) and performance by the Allottee of all his/her obligations in respect of the terms and conditions specified by the maintenance agency or the association of allottees from time to time.

  • RIGHT OF ALLOTTEE TO USE COMMON AREAS AND FACILITIES SUBJECT TO PAYMENT OF TOTAL MAINTENANCE CHARGES The Allottee hereby agrees to purchase the [Apartment/Plot] on the specific understanding that is/her right to the use of Common Areas shall be subject to timely payment of total maintenance charges, as determined and thereafter billed by the maintenance agency appointed or the association of allottees (or the maintenance agency appointed by it) and performance by the Allottee of all his/her obligations in respect of the terms and conditions specified by the maintenance agency or the association of allottees from time to time.

  • General Liability and Property Damage: With respect to all operations performed under the Agreement, the Party shall carry general liability insurance having all major divisions of coverage including, but not limited to: Premises - Operations Products and Completed Operations Personal Injury Liability Contractual Liability The policy shall be on an occurrence form and limits shall not be less than: $1,000,000 Per Occurrence $1,000,000 General Aggregate $1,000,000 Products/Completed Operations Aggregate $ 50,000 Fire/ Legal/Liability Party shall name the State of Vermont and its officers and employees as additional insureds for liability arising out of this Agreement.

  • Obligation to Provide State Access to Grant Records The Grantee must make all grant records of expenditures, copies of reports, books, and related documentation available to the Division or a duly authorized representative of the State of Florida for inspection at reasonable times for the purpose of making audits, examinations, excerpts and transcripts.

  • Xxxxxxxx’s Right to Reinstate the Loan after Acceleration If Xxxxxxxx meets certain conditions, Borrower will have the right to reinstate the Loan and have enforcement of this Security Instrument discontinued at any time up to the later of (a) five days before any foreclosure sale of the Property, or (b) such other period as Applicable Law might specify for the termination of Xxxxxxxx’s right to reinstate. This right to reinstate will not apply in the case of acceleration under Section 19. To reinstate the Loan, Borrower must satisfy all of the following conditions: (aa) pay Lender all sums that then would be due under this Security Instrument and the Note as if no acceleration had occurred; (bb) cure any Default of any other covenants or agreements under this Security Instrument or the Note; (cc) pay all expenses incurred in enforcing this Security Instrument or the Note, including, but not limited to: (i) reasonable attorneys’ fees and costs; (ii) property inspection and valuation fees; and (iii) other fees incurred to protect Xxxxxx’s interest in the Property and/or rights under this Security Instrument or the Note; and (dd) take such action as Lender may reasonably require to assure that Xxxxxx’s interest in the Property and/or rights under this Security Instrument or the Note, and Xxxxxxxx’s obligation to pay the sums secured by this Security Instrument or the Note, will continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (aaa) cash; (bbb) money order; (ccc) certified check, bank check, treasurer’s check, or cashier’s check, provided any such check is drawn upon an institution whose deposits are insured by a U.S. federal agency, instrumentality, or entity; or (ddd) Electronic Fund Transfer. Upon Xxxxxxxx’s reinstatement of the Loan, this Security Instrument and obligations secured by this Security Instrument will remain fully effective as if no acceleration had occurred.

  • Third Party Beneficiary Rights The parties do not intend to create in any other individual or entity the status of third party beneficiary and this Contract shall not be construed so as to create such status. The rights, duties and obligations contained in this Contract shall operate only between the parties to this Contract, and shall inure solely to the benefit of the parties to this Contract. The provisions of this Contract are intended only to assist the parties in determining and performing their obligations under this Contract. The parties to this Contract intend and expressly agree that only parties signatory to this Contract shall have any legal or equitable right to seek to enforce this Contract, to seek any remedy arising out of a party's performance or failure to perform any term or condition of this contract, or to bring an action for the breach of this Contract.

  • WAIVER OF RIGHTS ON DEATH OF OTHER SPOUSE Except for any Child Support statements made in Attachment A, each Spouse hereby waives the right to receive any property or rights whatsoever on the death of the other, unless such right is created or affirmed by the other under a will or other written document executed after the effective date of this Agreement. Each Spouse believes that he or she has received a fair and reasonable disclosure of the property and financial obligations of the other Spouse. Except for rights listed in this Agreement, the rights waived include, but are not limited to, rights to any of the following:

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