Common use of Accounts for Minors Clause in Contracts

Accounts for Minors. For any account established by or for a minor, the Credit Union reserves the right to require the minor account owner to have his or her Social Security Number (SSN) or Tax Identification Number (TIN) and to have a parental joint account owner who is at least eighteen (18) years of age, who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, or unpaid charges or amounts on such account. For a joint account, all funds in the account shall be owned as a joint account with rights of survivorship. The Credit Union may make payments of funds directly to the minor without regard to his or her minority. The Credit Union has no duty to inquire of the use or purpose of any transaction by the minor or joint account owner. The Credit Union will not honor any transaction request by a parent or guardian who is not a joint account owner. The minor account owner's Social Security Number (SSN) or Tax Identification Number (TIN) must be shown on the account. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners. Uniform Transfers To Minors Account. A Uniform Transfers to Minors Account (UTMA) is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal. Agency Designation. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Business, Organizational, Partnership or Corporation Accounts. If Your Account is a business, organizational, partnership or corporate account, you will supply us with a separate authorization informing us of the authorized signers for the Account and provide any other related documents if we request you to do so. We require that all partners, owners or organizational members be individually eligible for membership. To the extent that the information has been provided to Us by You, We may disclose to a payee whom the Credit Union has returned a dishonored check or draft issued on a business checking account the: (1) names of the business owner(s); (2) physical address of the business; (3) home address of the business owner(s); and (4) driver’s license numbers of the business owner(s), or in the alternative, the personal identification number issued to the business owner(s) by the Department of Public Safety. All requests for such information must be in writing and a legible copy of the dishonored check or draft must accompany the request.

Accounts for Minors. For We may require any account established by or for a minor, the Credit Union reserves the right minor to require the minor be a multiple party account owner to have his or her Social Security Number (SSN) or Tax Identification Number (TIN) and to have a parental joint account with an owner who is at least eighteen (18) years has reached the age of age, majority under Michigan 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. For a joint accountExcept where expressly provided otherwise, all funds in the account shall be owned as a joint account with rights of survivorship. The Credit Union we may make payments of pay funds directly to the a minor without regard to his or her minority. The Credit Union has 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 of about the use or purpose of any transaction by the minor or joint account owner. The Credit Union will not honor any transaction request by a parent or guardian who is not a joint account owner. The minor account owner's Social Security Number (SSN) or Tax Identification Number (TIN) must be shown on the accounttransaction. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners. Uniform Transfers To Minors Agency Designation on an Account. A Uniform Transfers to Minors Account (UTMA) is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal. Agency Designation. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Business, Organizational, Partnership or Corporation AccountsThe Credit Union shall not be liable for loss resulting from the misappropriation of funds withdrawn from an account by an authorized agent. Legal Process. If any legal action is brought involving your account, we may pay out funds according to the terms of the action or refuse any pay out until the dispute is resolved. Any expenses or attorney fees we incur responding to legal process may be charged against your account without notice, unless prohibited by law. In lieu of expenses other than attorneys’ fees, we may charge a Legal Process Fee as set forth on the Fee Schedule. Any legal process against your account is subject to our lien and security interest. Taxpayer Identification Numbers and Backup Withholding. Your failure to furnish a correct Taxpayer Identification Number (TIN) or meet other Internal Revenue Code requirements may result in backup withholding. If your account is subject to backup withholding, we must withhold and pay to the Internal Revenue Service (IRS) a percentage of dividends, interest and certain other payments. If you have designated on a W-9 or W-8BEN that you have applied for a TIN, you must provide the TIN within 60 days. Upon the expiration of the 60-day period, the Credit Union may begin withholding from your account. Special Account is Instructions. You may request that we facilitate certain financial or court- ordered account arrangements. However, because we do not give legal advice, we cannot counsel you as to which account arrangement most appropriately meets the specific requirements of your financial needs or court order. If you ask us to follow any instructions that we believe might expose us to claims, lawsuits, expenses, liabilities, or damages, whether directly or indirectly, we may refuse to follow your instructions or may require you to indemnify us or post a businessbond or other protection. Changes Requested by You. Account changes requested by you, organizationalsuch as adding or closing an account or service, partnership or corporate accountmust be submitted in writing, signed, and accepted by us. Cooperation in Loss Recovery Efforts. You agree to fully cooperate in any effort we undertake to recover funds that were taken from your account without authorization. For example, you will supply sign affidavits of loss or forgery that may be required by our insurance company. You also agreed to cooperate fully in any prosecution that may be initiated by the proper authorities pursuant to us with filing a separate authorization informing complaint about unauthorized activities involving your account. If a loss is the result of our actions (we lose a check you deposited, for example), you agree to help us to recover the loss but we will be responsible for all expenses involved. Standard of Care. Except where applicable law or this Agreement provides otherwise, we will not be liable for any events not involving our intentional misconduct or gross negligence. Verification of Ownership and Beneficiary Arrangements. You agree to check all records related to your account periodically (within 30 days after the authorized signers for the Account account is opened or any changes are made and provide any other related documents if we request you not less than once per year thereafter) to do so. We require ensure that all partners, owners or organizational members be individually eligible for membership. To the extent that the information has been provided to Us by You, We may disclose to a payee whom the Credit Union has returned a dishonored check or draft issued on a business checking account the: (1) names of the business owner(s); (2) physical address of the business; (3) home address of the business owner(s); ownership and (4) driver’s license numbers of the business owner(s), or beneficiary arrangements are set up in the alternative, way that you desire. You agree to contact the personal identification number issued credit union immediately if any ownership or beneficiary arrangement is not how you wish it to be. You further agree to hold the business owner(s) by the Department of Public Safety. All requests for such information must be in writing and a legible copy of the dishonored check credit union harmless from any claims that any ownership or draft must accompany the requestbeneficiary arrangement related to your account is not set up as you desire.

Accounts for Minors. For any account established by or for a minor, the Credit Union reserves the right to require the minor account owner to have his or her Social Security Number (SSN) or Tax Identification Number (TIN) and to have a parental joint account owner who is at least eighteen (18) years of age, who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, or unpaid charges or amounts on such account. For a joint account, all funds in the account shall be owned as a joint account with rights of survivorship. The Credit Union may make payments of funds directly to the minor without regard to his or her minority. The Credit Union has no duty to inquire of the use or purpose of any transaction by the minor or joint account owner. The Credit Union will not honor any transaction request by a parent or guardian who is not a joint account owner. The minor account owner's Social Security Number (SSN) or Tax Identification Number (TIN) must be shown on the account. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners. Uniform Transfers To Minors Account. A Uniform Transfers to Minors Account (UTMA) is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal. Agency Designation. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or Credit Union credit union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Business, Organizational, Partnership or Corporation Accounts. If Your Account is a business, organizational, partnership or corporate account, you will supply us with a separate authorization informing us of the authorized signers for the Account and provide any other related documents if we request you to do so. We require that all partners, owners or organizational members be individually eligible for membership. To the extent that the information has been provided to Us by You, We may disclose to a payee whom the Credit Union has returned a dishonored check or draft issued on a business checking account the: (1) names of the business owner(s); (2) physical address of the business; (3) home address of the business owner(s); and (4) driver’s license numbers of the business owner(s), or in the alternative, the personal identification number issued to the business owner(s) by the Department of Public Safety. All requests for such information must be in writing and a legible copy of the dishonored check or draft must accompany the request.

Accounts for Minors. For any account established by or for a minor, the Credit Union reserves the right to require the minor account owner to have his or her Social Security Number (SSN) or Tax Identification Number (TIN) and to have a parental joint account owner who is at least eighteen (18) years of age, who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, or unpaid charges or amounts on such account. For a joint account, all funds in the account shall be owned as a joint account with rights of survivorship. The Credit Union may make payments of funds directly to the minor without regard to his or her minority. The Credit Union has no duty to inquire of the use or purpose of any transaction by the minor or joint account owner. The Credit Union will not honor any transaction request by a parent or guardian who is not a joint account owner. The minor account owner's Social Security Number (SSN) or Tax Identification Number (TIN) must be shown on the account. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners. Uniform Transfers To Minors Account. UNIFORM TRANSFERS/GIFTS TO MINORS ACCOUNT - A Uniform Transfers Transfers/Gifts to Minors Account (UTMA/UGMA) is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor and and, barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal. Agency Designation. AGENCY DESIGNATION ON AN ACCOUNT - An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or Credit Union credit union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Business, Organizational, Partnership or Corporation Accounts. If Your Account is a business, organizational, partnership or corporate account, you will supply us with a separate authorization informing us of the authorized signers for the Account and provide any other related documents if we request you to do so. We require that all partners, owners or organizational members be individually eligible for membership. To the extent that the information has been provided to Us by You, We may disclose to a payee whom the Credit Union has returned a dishonored check or draft issued on a business checking account the: (1) names of the business owner(s); (2) physical address of the business; (3) home address of the business owner(s); and (4) driver’s license numbers of the business owner(s), or in the alternative, the personal identification number issued to the business owner(s) by the Department of Public Safety. All requests for such information must be in writing and a legible copy of the dishonored check or draft must accompany the request.

Accounts for Minors. The Credit Union reserves the right to limit the accounts and services that are available to minors. For any account established by or for a minor, the Credit Union reserves the right to require the minor account owner to have his or her Social Security Number (SSN) or Tax Identification Number (TIN) and to must have a parental joint account owner who is at least eighteen (18) years a parent or legal guardian of agethe minor, as approved by the Credit Union, who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, or unpaid charges or amounts on such accountUnion. For a joint account, all funds in the account shall be owned as a joint account with rights of survivorship. The Credit Union may make payments of funds directly to the minor without regard to his or her minority. The Credit Union has no duty to inquire of the use or purpose of any transaction transaction‌ by the minor or joint account owner. The minor account owner’s tax identification number must be shown of the Application. The Credit Union will not honor any transaction request by a parent or guardian who is not a automatically remove joint account owner. The minor account owner's Social Security Number (SSN) or Tax Identification Number (TIN) must be shown on the account. We will not change the account status owners when the minor reaches the age of majorityeighteen (18), unless authorized in writing by all account joint owners. Uniform Transfers To Minors AccountHowever, when the minor reaches age eighteen (18), the minor may open new accounts without regard to any restrictions on, or ownership and access arrangements of, existing accounts. Fiduciary Accounts A Uniform Transfers to Minors Account (UTMA) fiduciary account is an individual account created opened by an executor, administrator, personal representative, guardian, conservator, or other fiduciary in such capacity authorized under a custodian who deposits funds as an irrevocable gift to will, court order, or trust instrument establishing the fiduciary relationship trustee or a minorRepresentative Xxxxx authorized by the Social Security Administration (“fiduciary”). The minor to whom the gift is made account owner is the beneficiary estate, guardianship, conservatorship, trust, or Social Security Administration benefit recipient as the sole owner of the custodial property in the this account. The custodian has possession and control fiduciary is authorized to act on behalf of the account for the exclusive right and benefit of the minor and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal. Agency Designation. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent but has no ownership interest in the account(s) account. The fiduciary is the only authorized party to transact on this account. The fiduciary is expressly authorized to endorse all items payable to or owned by the account owner for deposit with or collection by the Credit Union voting rightsand to execute such other agreements and to perform any other account transaction under the Agreement. We The fiduciary is authorized to receive account information from the Credit Union, either orally or in writing, and any information related to the account. The authority given to the fiduciary shall remain in full force until a court order, termination of the account owner or written notice of revocation is received by the Credit Union either by a court appointed representative of the account owner or by the Social Security Administration, as applicable. Any such notice shall not affect any items in process at the time notice is given. The fiduciary will notify the Credit Union of any change in the account owner’s status affecting the deposit relationship between the account owner and the Credit Union. The fiduciary warrants that all actions he or she takes regarding the account will be for the sole benefit of the account owner and that the fiduciary will not conduct any transaction on the account that will personally benefit the fiduciary or will not comply with the terms of applicable laws, will, court order, or instrument establishing the fiduciary relationship. The Credit Union may rely upon these representations and shall have no duty to examine such authorizing documents for compliance or inquire about as To the use or purpose powers and duties of the fiduciary and shall have no notice of any transaction made breach of fiduciary duties by the agent. Business, Organizational, Partnership or Corporation Accounts. If Your Account is a business, organizational, partnership or corporate account, you will supply us with a separate authorization informing us of the authorized signers for the Account and provide any other related documents if we request you to do so. We require that all partners, owners or organizational members be individually eligible for membership. To the extent that the information has been provided to Us by You, We may disclose to a payee whom fiduciary unless the Credit Union has returned actual notice of wrongdoing. The account owner agrees that the Credit Union shall not be liable for any losses due to the account owner’s failure to notify the Credit Union of any unauthorized acts of the fiduciary or changes to the relationship between the fiduciary and account owner. The account owner and fiduciary agree to indemnify and hold the Credit Union harmless of any claim or liability as a dishonored check result of unauthorized acts of the fiduciary upon which the Credit Union relies prior to any actual notice of any account change or draft issued on a business checking change of the account theowner. Administrative Office 0000 Xxxxxxx Xxxx, Suite 311, Clinton, MD 20735-1730 No Cash Transactions Office Hours: 8:30 a.m. – 2:30 p.m. EST Branch Locations Teller Transactions / Cash Transactions Washington, D.C. Pittsburgh, Pennsylvania Capitol Heights, Maryland* San Fernando, California* Raleigh, North Carolina* (*No Cash Transactions) Shared Branching Network Remote Access xxx.xxxxxxx.xxx E-mail: xxxxxxx@xxxxxxx.xxx Phone and Telephone Teller (000) 000-0000 (toll-free) (000) 000-0000 (D.C. metro) Call Center Hours: 8:00 a.m. – 7:30 p.m. (EST) Virtual Branch: xxx.xxxxxxxxxx.xxx Routing Number: 000000000 Rate Information Please contact the Credit Union for current rates or visit our website at xxx.xxxxxxx.xxx. Rates are subject to change without notice. xxx.xxxxxxx.xxx 0000 Xxxxxxx Xxxx, Suite 311 Clinton, Maryland 20735-1730 (000) 000-0000 OR 1-800-USPS FCU (000-0000) Fax: (1000) names 000-0000 E-mail: xxxxxxx@xxxxxxx.xxx Website: xxx.xxxxxxx.xxx Equal LENDER Opportunity Federally Insured by NCUA We do business in accordance with the Federal Fair Housing Law and the Equal Opportunity Act. It is illegal to discriminate against any person because of the business owner(s); (2) physical address of the business; (3) home address of the business owner(s); and (4) driver’s license numbers of the business owner(s)race, color, religion, sex or in the alternative, the personal identification number issued to the business owner(s) by the Department of Public Safety. All requests for such information must be in writing and a legible copy of the dishonored check or draft must accompany the requestnational origin.

Accounts for Minors. For any account established by or for a minor, the The Credit Union reserves the right to require the any minor account owner to have his or her Social Security Number (SSN) or Tax Identification Number (TIN) and to have be a parental joint account with an owner who is at least eighteen (18) years has reached the age of agemajority under state law, who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, overdraft or unpaid charges or amounts and fees on such the account. For a joint account, all funds in the account shall be owned as a joint account with rights of survivorship. The Credit Union may make payments of funds directly to the minor without regard to his or her minority. Unless a parent or guardian is an account owner with the minor, the parent or guardian shall not have any access rights to the minor’s account. The Credit 2 | PURDUE FEDERAL CREDIT UNION YOUR GUIDE TO MEMBER SERVICES Union has no duty to inquire of the as to use or purpose of any transaction by the minor or joint any account owner. The Credit Union will not honor any transaction request by a parent or guardian who is not a joint We may require written authorization from all account owner. The minor account owner's Social Security Number (SSN) or Tax Identification Number (TIN) must be shown on the account. We will not owners to change the account status when once the minor reaches the age of majority, unless authorized in writing by all account owners. Uniform Transfers To Minors Account. Transfers/Gifts to Minors: A Uniform Transfers Transfer to Minor Account (“UTMA”) or Uniform Gifts to Minors Act (“UGMA”): A Uniform Transfer/Gifts to Minor Account (UTMA/UGMA) is an individual account created established by a custodian who deposits by depositing funds as an irrevocable gift to a minor. The minor to whom the gift is made is the owner and beneficiary of the custodial property in account and must qualify to be a member of the accountCredit Union. The custodian has possession and control of the account for the exclusive right and benefit of the minor and and, barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close transact on the account. We have The custodian agrees to be bound by the terms of this Agreement. The Credit Union has no duty to inquire about as to the use or purpose of any transactiontransaction by the custodian. If In the custodian diesevent of the custodian’s death, we the Credit Union may suspend place a hold on the account until we receive instructions are received from any a person authorized by law to withdraw funds or a court order authorizing withdrawalon behalf of the minor. Agency Designation. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or Guardianship/Custodial: The Credit Union voting rightsmay open accounts in cases of guardianship or for certain custodial situations, such as Social Security Representative Payees. We have no duty to inquire about the use or purpose In opening these types of any transaction made by the agent. Businessaccounts, Organizational, Partnership or Corporation Accounts. If Your Account is a business, organizational, partnership or corporate account, you will supply us with a separate authorization informing us of the authorized signers for the Account and provide any other related documents if we request you to do so. We require that all partners, owners or organizational members be individually eligible for membership. To the extent that the information has been provided to Us by You, We may disclose to a payee whom the Credit Union has returned acts only as a dishonored check depository for the funds and is under no obligation to act as a fiduciary or draft issued on a business checking account the: (1) names to inquire as to the powers or duties of the business owner(s); (2) physical address guardian, custodian, or representative payee. The guardian, custodian, or representative xxxxx agrees to be bound by the terms of this Agreement, but the beneficiary must qualify to be a member of the business; (3) home address of the business owner(s); and (4) driver’s license numbers of the business owner(s), or in the alternative, the personal identification number issued to the business owner(s) by the Department of Public Safety. All requests for such information must be in writing and a legible copy of the dishonored check or draft must accompany the requestCredit Union.

Accounts for Minors. For any account established by or for a minor, the Credit Union reserves the right to require the minor account owner to have his or her Social Security Number (SSN) or Tax Identification Number (TIN) and to have a parental joint account owner who is at least eighteen (18) years of age, who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, or unpaid charges or amounts on such account. For a joint account, all funds in the account shall be owned as a joint account with rights of survivorship. The Credit Union may make payments of funds directly to the minor without regard to his or her minority. The Credit Union has no duty to inquire of the use or purpose of any transaction by the minor or joint account owner. The Credit Union will not honor any transaction request by a parent or guardian who is not a joint account owner. The minor account owner's Social Security Number (SSN) or Tax Identification Number (TIN) must be shown on the account. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners. Uniform Transfers To Minors Account. A Uniform Transfers to Minors Account (UTMA) is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal. Agency Designation. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Business, Organizational, Partnership or Corporation AccountsDeposit Requirements. If Your Account is a business, organizational, partnership or corporate account, you will supply us with a separate authorization informing us of the authorized signers for the Account and provide Funds may be deposited to any other related documents if we request you to do so. We require that all partners, owners or organizational members be individually eligible for membership. To the extent that the information has been provided to Us account in any manner approved by You, We may disclose to a payee whom the Credit Union has returned a dishonored check or draft issued on a business checking account the: (1) names in accordance with the requirements set forth in the “Rate Addendum and Schedule of Fees and Charges.” All accounts are non- assignable and nonnegotiable to third parties. Certificate accounts are governed by the terms of this Agreement, the terms of the business owner(s); (2) physical address “Rate Addendum and Schedule of Fees and Charges,” and the business; (3) home address of the business owner(s); terms and (4) driver’s license numbers of the business owner(s)disclosures on your certificate account receipt for each account, or in the alternative, the personal identification number issued to the business owner(s) which is incorporated herein by the Department of Public Safety. All requests for such information must be in writing and a legible copy of the dishonored check or draft must accompany the requestthis reference.

Accounts for Minors. For any account established by or for a minor, the Credit Union reserves the right to require the minor account owner to have his or her Social Security Number (SSN) or Tax Identification Number (TIN) and to have a parental parental/legal guardian joint account owner who is at least eighteen (18) years of age, who shall be jointly and severally liable to the Credit Union for any returned item, overdraft, or unpaid charges or amounts on such account. For a joint account, all funds in the account shall be owned as a joint account with rights of survivorship. The Credit Union may make payments of funds directly to the minor without regard to his or her minority. The Credit Union has no duty to inquire of the use or purpose of any transaction by the minor or joint account owner. The Credit Union will not honor any transaction request by a parent or guardian who is not a joint account owner. The minor account owner's Social Security Number (SSN) or Tax Identification Number (TIN) must be shown on the account. We will not change the account status when the minor reaches the age of majority, unless authorized in writing by all account owners. Uniform Transfers To Minors Account. A Uniform Transfers to Minors Account (UTMA) is an individual account created by a custodian who deposits funds as an irrevocable gift to a minor. The minor to whom the gift is made is the beneficiary of the custodial property in the account. The custodian has possession and control of the account for the exclusive right and benefit of the minor and barring a court order otherwise, is the only party entitled to make deposits, withdrawals, or close the account. We have no duty to inquire about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw funds or a court order authorizing withdrawal. Agency Designation. An agency designation on an account is an instruction to us that the owner authorizes another person to make transactions as agent for the account owner regarding the accounts designated. An agent has no ownership interest in the account(s) or Credit Union voting rights. We have no duty to inquire about the use or purpose of any transaction made by the agent. Business, Organizational, Partnership or Corporation Accounts. If Your Account your account is a business, organizational, partnership or corporate account, you will supply us with a separate authorization informing us of the authorized signers for the Account account and provide any other related documents if we request you to do so. We require that all partners, owners or organizational members be individually eligible for membership. To the extent that the information has been provided to Us us by Youyou, We we may disclose to a payee whom the Credit Union has returned a dishonored check or draft issued on a business checking account the: (1) . names of the business owner(s); (2) physical address of the business; (3) home address of the business owner(s); and (4) driver’s license numbers of the business owner(s), or in the alternative, the personal identification number issued to the business owner(s) by the Department of Public Safety. All requests for such information must be in writing and a legible copy of the dishonored check or draft must accompany the request.;