Accounts for Fiduciary Purposes Sample Clauses

Accounts for Fiduciary Purposes. You may start, use and maintain accounts, products and services to hold the funds of an estate, memorial, guardianship, conserva- torship, fund or other fiduciary, legal or court ordered purpose with us (referred to in this Provision as the “fiduciary purpose”). You may be named as a fiduciary on the accounts, products and services on a service form or in our records. You agree that it is your responsi- bility as the fiduciary (and not our responsibility) to administer the accounts, products and services and funds for the fiduciary purpose. You further agree that we are only providing you with accounts, prod- ucts and services for and are not assisting you with or advising you about the fiduciary purpose. For IRS reporting purposes, the name that appears first on a form or that is entered in our records generally must match the SSN or EIN that you certify on behalf of the fiduciary purpose. However, on your request, we may be able to write the full name of the fiduciary purpose on a form or in our records to explain the purpose and/or the ownership of an account, loan, product or service. To start the accounts, products and services, we may require and review a copy of the documentation addressing the fiduciary purpose, and your ID and authority to act as a fiduciary for that purpose. You agree that you, as the fiduciary on the ac- counts, products and services, are fully responsible for fulfilling the duties and responsibilities of the fiduciary purpose. We may keep a copy of the documentation designating you as a fiduciary for initial due diligence purposes. However, you agree that once you start and consent to the account, products, services and the MSA, we may thereafter refer to and rely exclusively on the MSA. If you are the only fiduciary on an account, you have the same rights and re- sponsibilities as an owner to take actions and conduct transactions on the account, products and services (please see Provision 4.a.). If two or more fiduciaries are on an account, you have the same rights and responsibilities as an owner on a multiple owner account to take actions and conduct transactions on the account, products and services (please see Provision 4.b.).Your authority to conduct business with us as the fiduciary will remain in full force until we re- ceive lawful notice otherwise. You, as the fiduciary, must notify us of any change to the fiduciary purpose that affects the accounts, loans, products and services. You warrant that all your actions and ...
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Accounts for Fiduciary Purposes. (Accounts that Hold the Funds for Trusts, Wards, Conservatorships, Beneficiaries, Estates, etc.). When you open an account to hold the funds of an estate, trust, guardianship, conservatorship or court ordered purpose (or for any other legal and/or fiduciary relationship or purpose), you understand and acknowledge that we are only providing you, as the account owner, with an account to hold funds for that estate, trust, guardianship, conservatorship or court ordered purpose (or legal and/or fiduciary relationship or purpose). You further understand and acknowledge that you as the account owner are totally and completely responsible for fulfilling the duties and responsibilities of that estate, trust, guardianship, conservatorship or court ordered purpose (or any other legal and/or fiduciary relationship or purpose), and that we need only rely exclusively on the terms of Parts 1 and 2 of this contract. Furthermore, you and all persons associated in any way with the estate, trust, guardianship, conservatorship or court ordered purpose (or any other legal and/or fiduciary relationship or purpose), agree to indemnify, defend, and hold us harmless for any loss, damage, claim or liability asserted against us for our actions taken pursuant to this contract (and all disclosures, bylaws, policies and procedures incorporated by reference) that occurs as a result of opening, using and closing this account, and sign a statement acknowledging the same. In the event we need to review any documentation for the opening, maintenance or termination of the account that holds funds for fiduciary purposes, or for any transaction on the account, you agree to pay all costs and expenses, including reasonable attorney fees, incurred for the review of that documentation. We may require you to substantiate your authority to negotiate a check not specifically made payable to you before accepting it for deposit, and may require you to deposit the check into the specific account pertaining to the payee of check.
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Related to Accounts for Fiduciary Purposes

  • Accounts for Minors We may require any account established by a minor to be a joint account with an owner who has reached the age of majority under state law and who shall be jointly and severally liable to us for any returned item, overdraft, or unpaid charges or amounts on such account. We may pay funds directly to the minor without regard to his or her minority. Unless a guardian or parent is an account owner, the guardian or parent shall not have any account access rights. We have no duty to inquire about the use or purpose of any transaction. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners.

  • Criteria for Selection a. The Sabbatical Selection Committee shall use four (4) criteria for selection of academic employees to receive sabbaticals. These are: the merit of the sabbatical project, the applicant’s current and previous contributions to the College community, the proposal’s relevancy to the College’s Strategic Plan and whether or not the applicant has had a previous sabbatical. In instances where these criteria are equal, seniority shall be the determining factor.

  • ELIGIBILITY FOR SERVICES The COUNTY shall determine eligibility for receiving services under this agreement.

  • Important Information About Procedures for Opening a New Account To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial organizations to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, you are required to provide your name, residential address, date of birth, and identification number. We may require other information that will allow us to identify you.

  • Leave With Pay for Family-Related Responsibilities (a) For the purpose of this clause, family is defined as spouse (or common-law spouse resident with the employee), dependent children (including xxxxxx children and children of legal or common-law spouse), parents (including stepparents or xxxxxx parents), or any relative residing in the employee's household or with whom the employee permanently resides.

  • Selection of Administrator The Parties have jointly selected CPT Group, Inc. to serve as the Administrator and verified that, as a condition of appointment, CPT Group, Inc. agrees to be bound by this Agreement and to perform, as a fiduciary, all duties specified in this Agreement in exchange for payment of Administration Expenses. The Parties and their Counsel represent that they have no interest or relationship, financial or otherwise, with the Administrator other than a professional relationship arising out of prior experiences administering settlements.

  • Coverage for Members Who Are Hospitalized on Their Effective Date If you are in the hospital on your effective date of coverage, healthcare services related to such hospitalization are covered as long as: (a) you notify us of your hospitalization within forty-eight (48) hours of the effective date, or as soon as is reasonably possible; and (b) covered healthcare services are received in accordance with the terms, conditions, exclusions and limitations of this agreement. As always, benefits paid in such situations are subject to the Coordination of Benefits provisions.

  • Limitation on Custodian Responsibility The Custodian will not under any circumstances be responsible for the timing, purpose or propriety of any contribution or of any distribution made hereunder, nor shall the Custodian incur any liability or responsibility for any tax imposed on account of any such contribution or distribution. Further, the Custodian shall not incur any liability or responsibility in taking or omitting to take any action based on any notice, election, or instruction or any written instrument believed by the Custodian to be genuine and to have been properly executed. The Custodian shall be under no duty of inquiry with respect to any such notice, election, instruction, or written instrument, but in its discretion may request any tax waivers, proof of signatures or other evidence which it reasonably deems necessary for its protection. The depositor and the successors of the depositor including any executor or administrator of the depositor shall, to the extent permitted by law, indemnify the Custodian and its successors and assigns against any and all claims, actions or liabilities of the Custodian to the depositor or the successors or beneficiaries of the depositor whatsoever (including without limitation all reasonable expenses incurred in defending against or settlement of such claims, actions or liabilities) which may arise in connection with this Agreement or the custodial account, except those due to the Custodian’s own bad faith, gross negligence or willful misconduct. The Custodian shall not be under any duty to take any action not specified in this Agreement, unless the depositor shall furnish it with instructions in proper form and such instructions shall have been specifically agreed to by the Custodian, or to defend or engage in any suit with respect hereto unless it shall have first agreed in writing to do so and shall have been fully indemnified to its satisfaction.

  • Administrative Responsibilities With respect to each Trust Fund, the Administrator (on behalf of the Trustee) shall hold and administer, or supervise the administration of, the REMIC Pools and MACR Pools in a manner consistent with and to the extent required by standards of prudence and in substantially the same manner as the Administrator holds and administers assets of the same or similar type held for its own account. In performing its responsibilities hereunder, the Administrator may employ independent contractors or agents. Except as provided in Articles VI, VII and VIII and Sections 9.05 and 9.06 of this Agreement, the Administrator shall not be subject to the control of Holders in any manner whatsoever in the discharge of its responsibilities pursuant to this Agreement. Except with regard to its indemnities under Sections 2.05 and 9.01, the Administrator shall have no liability to any Holder other than for any direct damage resulting from the Administrator’s failure to exercise that degree of ordinary care which it exercises in the conduct and management of its own affairs. In no event shall the Administrator have any liability of any nature for consequential damages. Nothing in this Section shall relieve Xxxxxxx Mac, in its capacity as Guarantor, of its guarantee obligation pursuant to Section 4.06.

  • Special Rules for New Accounts If you are a new member, the following special rules will apply during the first 30 days your account is open. Funds from electronic direct deposits to your account will be available on the day we receive the deposit. Funds from deposits of cash, wire transfers, and the first $5,525.00 of a day’s total deposits of cashier’s, certified, teller’s, traveler’s, and federal, state, and local government checks will be available on the first business day after the day of your deposit if the deposit meets certain conditions. For example, the checks must be made payable to you. The excess over $5,525.00 will be available on the ninth business day after the day of your deposit. If your deposit of these checks (other than a U.S Treasury check) is not made in person to one of our employees, the first $5,525.00 will not be available until the second business day after the day of your deposit. Funds from all other check deposits will be available on the ninth business day after the day of your deposit.

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