Common use of Accounts Considered Dormant or Abandoned Clause in Contracts

Accounts Considered Dormant or Abandoned. Your accounts and deposits may be presumed dormant or abandoned after a certain period of time as determined by Applicable Law. Dormant accounts may be subject to the Dormant Account Fee disclosed in the Fee Schedule. Standard account service and maintenance fees may also be imposed on accounts presumed to be dormant and/or abandoned. Accounts that are presumed to be abandoned will be escheated in accordance with Applicable Law.

Appears in 4 contracts

Samples: www.salisburybank.com, www.salisburybank.com, www.salisburybank.com

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Accounts Considered Dormant or Abandoned. Your accounts and deposits may be presumed dormant or abandoned after a certain period of time as determined by Applicable Law. Dormant accounts may be subject to the Dormant Account Fee Dormancy Charge disclosed in the Fee ScheduleSchedule of Fees (as may be amended from time to time). Standard account service and maintenance fees may also be imposed on accounts presumed to be dormant and/or abandoned. Accounts that are presumed to be abandoned will be escheated in accordance with Applicable Law.

Appears in 1 contract

Samples: Business Deposit Account Agreement

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Accounts Considered Dormant or Abandoned. Your accounts and deposits may be presumed dormant or abandoned after a certain period of time as determined by Applicable Law. Dormant accounts may be subject to the Dormant Account Fee fees disclosed in the Fee ScheduleSchedule of Fees (as may be amended from time to time) and we may stop paying interest on such accounts as permitted by Applicable Law. Standard account service and maintenance fees may also be imposed on accounts presumed to be dormant and/or abandoned. Accounts that are presumed to be abandoned will be escheated in accordance with Applicable Law.

Appears in 1 contract

Samples: Deposit Account Agreement

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