Common use of Accounts for Minors Clause in Contracts

Accounts for Minors. We reserve the right to require any account established by a minor to be a joint account with an owner who is their parent or legal guardian that has reached the age of majority under state law and who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, or unpaid charges or amounts on such account. We may pay or refuse to pay funds directly to a minor listed on an account at our discretion without regard to his or her minority. We may refuse to make modifications to an existing account at the request of a minor, unless those requested modifications are accompanied by the consent of an adult also listed on the account. Unless a guardian or parent is an account owner on the child’s account, the guardian or parent shall not have any right to access the account. 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.

Accounts for Minors. We reserve the right to require any account established by a minor to be a joint account with an owner who is their parent or legal guardian that has reached the age of majority under state law and who shall be jointly and severally liable to the Credit Union us for any returned item, overdraft, or unpaid charges or amounts on such account. .We may pay or refuse to pay funds directly to a minor listed on an account at our discretion without regard to his or her minority. .We may refuse to make modifications to an existing account at the request of a minor, unless those requested modifications are accompanied by the consent of an adult also listed on the account. Unless a guardian or parent is an account owner on the child’s account, the guardian or parent shall not have any right to access the account. .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.

Accounts for Minors. We reserve the right to require any account established by a minor to be a joint account with an owner who is their parent or legal guardian that has reached the age of majority under state law and who shall be jointly and severally liable to the Credit Union us for any returned item, overdraft, or unpaid charges or amounts on such account. We may pay or refuse to pay funds directly to a minor listed on an account at our discretion without regard to his or her minority. We may refuse to make modifications to an existing account at the request of a minor, unless those requested modifications are accompanied by the consent of an adult also listed on the account. Unless a guardian or parent is an account owner on the child’s account, the guardian or parent shall not have any right to access the account. 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.