Single Party Account. Under this type of account ownership, the sole party to the account owns the account. If you open a Single Party Account without a Payable on Death (POD) designation, then upon your death, ownership of the account passes as part of your estate under your Will or by intestacy. If you make a POD designation, then upon your death, ownership of the account passes to the POD beneficiaries of the account and the account does not pass as part of your estate.
Single Party Account. The party to the Account owns the Account. At the death of the party, ownership passes as part of the party's estate.
Single Party Account. A single party account is an Account owned by one member (individual, corporation, partnership, limited liability company, trust or other legal entity or organization) qualified for credit union membership. If the Account owner dies, the interest passes, subject to applicable law, to the decedent's estate or Payable on Death (POD) beneficiary/payee or trust beneficiary, subject to other provisions in this Agreement governing our protection for honoring transfer and withdrawal requests of an owner or owner's agent prior to notice of an owner's death.
Single Party Account. A single-party account is an account owned by one member. A single-party account is also referred to as an individual account.
Single Party Account. At death of the party, ownership passes as part of the party’s estate, subject to any applicable law granting right of withdrawal to persons other than estate representatives.
Single Party Account. Unless modified by the laws of your state, a single-party Account is owned by one person or entity. Multiple-party Account. Unless modified by the laws of your state, a multiple-party Account is owned by two or more persons or entities jointly with right of survivorship and not as tenants in common, regardless of the conjunction (or, and) used between the depositors' names. Each of you expressly agrees that the Account is not owned as a tenancy by the entireties. Each of you intends that upon your death the balance in the Account (subject to our rights of setoff and any previous pledge to which we have consented) will vest in and belong to the survivor(s) as the separate property and estate of such survivor(s). If two or more of you survive, you will own the balance in the Account as joint tenants with survivorship and not as tenants in common. Transactions on multiple-party Accounts do not require the signatures of all Account owners to transact on the Account. Instead, any one Account owner or authorized signer may transact on the Account to the exclusion of the other(s), and each of you authorize each other of you to do so without further consent. If this Agreement is governed by the laws of the state of Louisiana, the owners of a multiple-party Account are co-owners of the Account, and all or any part of any deposit may be paid to any one of you, whether any other of you is living or not, and any such payment to any of you shall constitute receipt and acquittance and shall fully release and discharge us from the claims of any person to funds of the deceased depositor for the payment made.
Single Party Account. Under this type of Account ownership, the Party to the Account owns the Account. If a Single Party Account is opened without a P.O.D. designation, then upon the Party’s death, ownership of the Account passes as part of Party’s estate under the Party’s Will or by intestacy. If a P.O.D. designation is made and the P.O.D. beneficiaries survive the Party, then upon the Party’s death, ownership of the Account passes to the P.O.D. beneficiaries of the Account and the Account does not pass as part of the Party’s estate.
Single Party Account. At the death of a party, ownership passes as part of the party’s estate. Multiple-Party Account With Right of Survivorship. At death of party, ownership passes to surviving parties. If two or more parties survive and one is the surviving spouse of the deceased party, the amount to which the deceased party, immediately before death, was beneficially entitled by law belongs to the surviving spouse. If two or more parties survive and none is the spouse of the decedent, the amount to which the deceased party, immediately before death, was beneficially entitled by law belongs to the surviving parties in equal shares, and augments the proportion to which each surviving party, immediately before the deceased party’s death, was beneficially entitled under law, and the right of survivorship continues between the surviving parties.
Single Party Account. A single-party account is payable to one (1) party, the owner, during his or her lifetime. If the owner designated one or more payable-on-death (POD) beneficiaries, when the owner dies, the account is payable to the POD beneficiary(ies); if no POD beneficiary is designated by the owner, upon the owner’s death, the account is payable as part of the owner’s estate under his or her will or by the applicable laws of intestacy.
Single Party Account. The named party in a single-party account owns the account and may withdraw all or some of the account. On the death of the party, ownership passes as part of the party's estate. Single-Party Account with P.O.D. (Pay on Death) Designation. A single-party account with POD (Pay on Death) designation permits the party to transfer the account upon the death of the party to named beneficiaries. The named party in a single-party account may withdraw all or some of the account during his or her lifetime. The party may change the named beneficiaries at any time by written direction in a form acceptable to us. If one beneficiary survives the party, then ownership passes to the named beneficiary. If two or more beneficiaries survive the party, then they will be entitled to equal shares of the account without a right of survivorship, unless otherwise indicated. If no beneficiary survives the party, then the account will be treated as a single party account in the name of the party. Multiple-Party Account with Right of Survivorship. Any of the named parties may withdraw all or some of the account during the party's lifetime. Upon the death of a party, ownership passes to the surviving party or parties rather than passing as part of the decedent party's estate. If two or more parties survive the decedent party, then the decedent's ownership passes to the surviving parties in equal shares. However, if two or more parties survive the decedent party and one is the spouse of the decedent, then the decedent party's ownership share passes to his or her spouse. There will continue to be a right of survivorship between the surviving parties. When there is only one surviving party, the account shall be treated as a single-party account. Multiple-Party Account without Right of Survivorship. Any of the named parties may withdraw all or some of the account during the party's lifetime. Upon the death of a party, that party's ownership share in the account passes as part of the decedent party's estate. Multiple-Party with Right of Survivorship and P.O.D. (Pay on Death) Designation. A multiple-party account with right of survivorship and POD (Pay on Death) designation permits the parties to transfer the account upon the death of all parties to named beneficiaries. Upon the death of a party, ownership passes to the surviving party or parties rather than passing as part of the decedent party's estate. If two or more parties survive the decedent party, then the decedent's ownership pass...
