Common use of Account Ownership Clause in Contracts

Account Ownership. The form of ownership of your account is designated on the signature card or our other deposit account records. We may rely on this designation for all purposes concerning your account. If for some reason you have not signed a signature card or we do not have your signature card, we will not be liable to you for honoring checks or other signed instructions if we believe in good faith that the signature appearing on such checks or instructions is authorized. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, if any, specified on your account records, except as they determine to whom we pay account funds. If two or more persons desire to establish a joint account with us, each person must sign the signature card. For your convenience, we may allow you to establish a joint account, even if only one joint account owner signs the signature card. If we allow you to do this, you agree to indemnify and hold us harmless from and against Losses we may incur, or other harm arising from, or in any way relating to, establishing your joint account without having a signature card signed by another joint account owner. By transacting any business on the joint account, a joint account owner who has not signed your account’s signature card agrees to be bound by this Agreement. If any joint account owner has not provided us with a signed signature card, your joint account may not qualify as a joint account for purposes of federal deposit insurance coverage or under Applicable Law concerning inheritance or the transfer of property upon death. We reserve the right to refuse to pay or honor checks and other orders of withdrawal signed by a joint account owner who has not signed your account’s signature card. We may, in our sole discretion, convert your joint account into an individual account.

Account Ownership. The form of ownership of You may open your account is designated on the signature card in one or our other deposit account recordsmore names. We Minors may rely on this designation for all purposes concerning your accountnot open accounts as sole owners. Joint Accounts: If for some reason you have not signed a signature card or we do not have your signature cardopened in more than one name, we will not be liable to you for honoring checks or other signed instructions if we believe in good faith that the signature appearing on such checks or instructions is authorized. We make no representations as to the appropriateness or effect of the ownership and beneficiary designations, if any, specified on your account records, except will be treated as they determine to whom we pay account funds. If two or more persons desire to establish a joint account with usright of survivorship. If one owner dies, each person funds will be payable to the surviving owner(s). The TIN assigned to the account for IRS reporting purposes shall be that of the first listed owner. Any account owner may withdraw any or all of the funds, regardless of any information we may have regarding actual ownership of the funds on deposit. We may honor instructions concerning the account from any account owner or the legal representative of any account owner, including instructions regarding account closure, account re-titling, and/or the removal of account owners. Each joint account owner guarantees the signature of the other joint owner(s). All owners on a joint account are jointly and individually liable for any overdrafts created in the account, regardless of which joint owner made the withdrawal overdrawing the account or who benefited from the payment. All owners must sign a permanent signature card and provide the signature cardrequired documentation of identity. Failure to provide us with this completed document may result in the Bank’s refusal to negotiate checks or payment orders against the account. For your convenience, we may allow you to establish a joint account, even if only one joint account owner signs the signature card. If we allow you to do this, you agree to indemnify and hold us harmless from and against Losses losses we may incur, or other harm arising from, or in any way relating to, establishing your joint account without having a signature card signed by another joint account owner. By transacting any business on the joint account, a joint account owner who has not signed your the account’s signature card agrees to be bound by this Agreement, the Consumer Banking Fee Schedule, and any other applicable agreement. If any joint account owner has not provided us with a signed signature card, your joint account may not qualify as a joint account for purposes of federal deposit insurance Federal Deposit Insurance coverage or under Applicable Law applicable law concerning inheritance or the transfer of property upon death. We reserve the right to refuse to pay or honor checks and other orders of withdrawal signed by a joint account owner who has not signed your the account’s signature card. We may, in our sole discretion, convert your joint account into an individual account. Each joint account owner hereby appoints each other joint owner as his or her agent for the purpose of requesting services relating to the account, such as ATM or debit cards, Online Banking, and telephone banking.