Common use of Accounts Owned by Trusts Clause in Contracts

Accounts Owned by Trusts. You may open an account to hold the funds of your trust and be named as a trustee on our Member Service Agreement for a Trust Part 1 (MSAFAT Part 1). You under- stand that for IRS reporting purposes, the name that appears first on Part 1 of the Agreement must match the Social Security Number or Employer Identification Num- ber provided by you to open the account (though, we will be able to write the full legal name of the trust in the specially designated area of Part 1 of the Agreement should you so desire). A person named as a trustee on the Part 1 account form (or other form we use) has the same rights, responsibilities and liabilities as an owner of an account under this Agreement to open, initiate, change, add, close or terminate an account or service. Each trustee understands that any trustee acting alone may initiate, change, add, close or terminate the account and/or a service, and that his or her signature on Part 1 of this Agreement or continued use of an account or service (or receipt or availability of a periodic statement) confirms his or her agreement to any later initiation, change, addition, closure or termination of an account and/or service by any other trustee on the account. While any trustee may initiate, change, add, close or terminate the account and/or a service acting alone, we may require all trustees to consent in writing to the addition or removal of any trustee to or from the account. All trustees agree that we have no duty to notify the trustees of the account of any transaction, initiation, change, addition, closure or termination of an account or service by any trustee acting alone. If you request us to place a trustee on an account who has not signed the Part 1 account form (or other form we use), you agree that person is a trustee of the account who may conduct transactions, initiate, change, add, close or terminate accounts and services according to this Agreement. If you wish to place a successor trustee or successor trustees on the account, we can include that person’s name as a successor trustee on the account, and any suc- cessor trustee may claim the funds in the account upon providing any proof satisfac- tory to us of his, her or their authority and succession to act as the current trustee(s) of the trust. Until such proof is provided to us, a successor trustee has no rights to the account or to the funds held in the account. You understand and agree that you and any person designated by you on Part 1 of this Agreement are fully responsible for fulfilling the duties and responsibilities of the trust, and that we may rely exclu- sively on the terms of Parts 1 and 2 of this Agreement. All persons or organizations associated in any way with the trust (i.e., all grantors, trustees, successor trustees, and/or beneficiaries) agree to indemnify and defend us against and hold us harmless from any loss, damage, claim or liability that occurs as a result of opening, initiating, conducting transactions on, changing, adding, closing or terminating the account or services. You understand that we may require any person or organization associated in any way with the trust to sign a statement acknowledging the obligation to indem- nify and defend us against and hold us harmless from any loss, damage, claim or liability as well as the person’s or organization’s agreement to this Agreement. To assure that we carry out your wishes, if we need to seek legal or other professional advice to review your trust agreement for opening, initiating, changing, adding, clos- ing or terminating an account or service, or for any transaction on the account, you agree to pay all costs and expenses, including reasonable attorney fees, incurred for the review of your trust agreement. You further agree that all costs and expenses of such review may be deducted from your account, and that you will be responsible for any additional amount owed according to the terms of this Agreement. For your and our protection, we may require you to prove your authority to negotiate a check pay- able to a trust before accepting any check for deposit, and may require you to de- posit the check into an account for the trust.

Accounts Owned by Trusts. You may open an account to hold the funds of your trust and be named as a trustee on our Member Service Agreement Account Contract for a Trust Part 1 (MSAFAT Part 1). You under- stand understand that for IRS reporting purposes, the name that appears first on Part 1 of the Agreement Contract must match the Social Security Number or Employer Identification Num- ber Number provided by you to open the account (though, we will be able to write the full legal name of the trust in the specially designated area of Part 1 of the Agreement Contract should you so desire). A person named as a trustee on the Part 1 account form (or other form we use) has the same rights, responsibilities and liabilities as an owner of an account under this Agreement to open, initiate, change, add, close or terminate an account or service. Each trustee understands that any trustee acting alone may initiate, change, add, close or terminate the account and/or a service, and that his or her signature on Part 1 of this Agreement or continued use of an account or service (or receipt or availability of a periodic statement) confirms his or her agreement to any later initiation, change, addition, closure or termination of an account and/or service by any other trustee on the account. While any trustee may initiate, change, add, close or terminate the account and/or a service acting alone, we may require all trustees to consent in writing to the addition or removal of any trustee to or from the account. All trustees agree that we have no duty to notify the trustees of the account of any transaction, initiation, change, addition, closure or termination of an account or service by any trustee acting alone. If you request us to place a trustee on an account who has not signed the Part 1 account form (or other form we use), you agree that person is a trustee of the account who may conduct transactions, initiate, change, add, close or terminate accounts and services according to this Agreement. If you wish to place a successor trustee or successor trustees on the account, we can include that person’s name as a successor trustee on the account, and any suc- cessor successor trustee may claim the funds in the account upon providing any satisfactory proof satisfac- tory to us of his, her her, or their authority and succession to act as the current trustee(s) of the trust. Until such proof is provided to us, a successor trustee has no rights to the account or to the funds held in the account. You understand and agree that you and any person designated by you on Part 1 of this Agreement Contract are fully responsible for fulfilling the duties and responsibilities of the trust, and that we may rely exclu- sively exclusively on the terms of Parts 1 and 2 of this AgreementContract. All persons or organizations associated in any way with the trust (i.e., all grantors, trustees, successor trustees, and/or beneficiaries) agree to indemnify and defend us against indemnify, defend, and hold us harmless from for any loss, damage, claim claim, or liability that occurs as a result of opening, initiatingusing, conducting transactions on, changing, adding, and closing or terminating the account or servicesthis account. You understand agree that we may require any person or organization associated in any way with the trust to sign a statement acknowledging the obligation to indem- nify and defend us against indemnify, defend, and hold us harmless from any loss, damage, claim or liability as well as the person’s or organization’s agreement to this AgreementContract. To assure that we carry out your wishes, if If we need to seek legal or other professional advice to review your trust agreement for opening, initiatingmaintenance, changing, adding, clos- ing or terminating an account or service, or for any transaction on or closing the account, you agree to pay all costs and expenses, including reasonable attorney fees, incurred for the review of your trust agreement. You further agree that all costs and expenses of such review may be deducted from your account, and that you will be responsible for any additional amount owed according to the terms of this Agreement. For your and our protection, we may require you to prove your authority to negotiate a check pay- able payable to a trust before accepting any check for deposit, and may require you to de- posit deposit the check into an account for the trust.

Accounts Owned by Trusts. You may open an account to hold the funds of your trust and be named as a trustee on our Member Service Agreement Account Contract for a Trust Part 1 (MSAFAT Part 1). You under- stand understand that for IRS reporting purposes, the name that appears first on Part 1 of the Agreement Contract must match the Social Security Number or Employer Identification Num- ber Number provided by you to open the account (though, we will be able to write the full legal name of the trust in the specially designated area of Part 1 of the Agreement Contract should you so desire). A person named as a trustee on the Part 1 account form (or other form we use) has the same rights, responsibilities and liabilities as an owner of an account under this Agreement to open, initiate, change, add, close or terminate an account or service. Each trustee understands that any trustee acting alone may initiate, change, add, close or terminate the account and/or a service, and that his or her signature on Part 1 of this Agreement or continued use of an account or service (or receipt or availability of a periodic statement) confirms his or her agreement to any later initiation, change, addition, closure or termination of an account and/or service by any other trustee on the account. While any trustee may initiate, change, add, close or terminate the account and/or a service acting alone, we may require all trustees to consent in writing to the addition or removal of any trustee to or from the account. All trustees agree that we have no duty to notify the trustees of the account of any transaction, initiation, change, addition, closure or termination of an account or service by any trustee acting alone. If you request us to place a trustee on an account who has not signed the Part 1 account form (or other form we use), you agree that person is a trustee of the account who may conduct transactions, initiate, change, add, close or terminate accounts and services according to this Agreement. If you wish to place a successor trustee or successor trustees on the account, we can include that person’s name as a successor trustee on the account, and any suc- cessor successor trustee may claim the funds in the account upon providing any satisfactory proof satisfac- tory to us of his, her her, or their authority and succession to act as the current trustee(s) of the trust. Until such proof is provided to us, a successor trustee has no rights to the account or to the funds held in the account. You understand and agree that you and any person designated by you on Part 1 of this Agreement Contract are fully responsible for fulfilling the duties and responsibilities of the trust, and that we may rely exclu- sively exclusively on the terms of Parts 1 and 2 of this AgreementCon- tract. All persons or organizations associated in any way with the trust (i.e., all grantors, trustees, successor trustees, and/or beneficiariesbene- ficiaries) agree to indemnify and defend us against indemnify, defend, and hold us harmless from for any loss, damage, claim claim, or liability that occurs as a result of opening, initiatingusing, conducting transactions on, changing, adding, and closing or terminating the account or servicesthis ac- count. You understand agree that we may require any person or organization associated in any way with the trust to sign a statement acknowledging acknowl- edging the obligation to indem- nify and defend us against indemnify, defend, and hold us harmless from any loss, damage, claim or liability as well as the person’s or organization’s agreement to this AgreementCon- tract. To assure that we carry out your wishes, if If we need to seek legal or other professional advice to review your trust agreement for opening, initiatingmaintenance, changing, adding, clos- ing or terminating an account or service, or for any transaction on or clos- ing the account, you agree to pay all costs and expenses, including includ- ing reasonable attorney fees, incurred for the review of your trust agreement. You further agree that all costs and expenses of such review may be deducted from your account, and that you will be responsible for any additional amount owed according to the terms of this Agreement. For your and our protection, we may require you to prove your authority to negotiate a check pay- able payable to a trust before accepting any check for deposit, and may require you to de- posit deposit the check into an account for the trust.

Accounts Owned by Trusts. You may open an account to hold the funds of your trust and be named as a trustee on our Member Service Agreement for a Trust Part 1 (MSAFAT Part 1). You under- stand understand that for IRS reporting purposes, the name that appears first on Part 1 of the Agreement must match the Social Security Number or Employer Identification Num- ber Number provided by you to open the account (though, we will be able to write the full legal name of the trust in the specially designated area of Part 1 of the Agreement should you so desire). A person named as a trustee on the Part 1 account form (or other form we use) has the same rights, responsibilities and liabilities as an owner of an account under this Agreement Agree- ment to open, initiate, change, add, close or terminate an account or service. Each trustee understands that any trustee acting alone may initiate, change, add, close or terminate the account and/or a service, and that his or her signature on Part 1 of this Agreement or continued use of an account or service (or receipt or availability of a periodic peri- odic statement) confirms his or her agreement to any later initiation, change, addition, closure or termination of an account and/or service by any other trustee on the account. While any trustee may initiate, change, add, close or terminate the account and/or a service acting alone, we may require all trustees to consent in writing to the addition or removal of any trustee to or from the account. All trustees agree that we have no duty to notify the trustees of the account of any transaction, initiation, change, addition, closure clo- sure or termination of an account or service by any trustee acting alone. If you request us to place a trustee on an account who has not signed the Part 1 account form (or other form we use), you agree that person is a trustee of the account who may conduct transactions, initiate, change, add, close or terminate accounts and services according to this Agreement. If you wish to place a successor trustee or successor trustees on the account, we can include that person’s name as a successor trustee on the account, and any suc- cessor successor trustee may claim the funds in the account upon providing any proof satisfac- tory satisfactory to us of his, her or their authority and succession to act as the current trustee(strus- tee(s) of the trust. Until such proof is provided to us, a successor trustee has no rights to the account or to the funds held in the account. You understand and agree that you and any person designated by you on Part 1 of this Agreement are fully responsible for fulfilling the duties and responsibilities of the trust, and that we may rely exclu- sively exclusively on the terms of Parts 1 and 2 of this Agreement. All persons or organizations associated in any way with the trust (i.e., all grantors, trustees, successor trustees, and/or beneficiariesbeneficiar- ies) agree to indemnify and defend us against and hold us harmless from any loss, damage, claim or liability that occurs as a result of opening, initiating, conducting transactions trans- actions on, changing, adding, closing or terminating the account or services. You understand un- derstand that we may require any person or organization associated in any way with the trust to sign a statement acknowledging the obligation to indem- nify indemnify and defend us against and hold us harmless from any loss, damage, claim or liability as well as the person’s or organization’s agreement to this Agreement. To assure that we carry out your wishes, if we need to seek legal or other professional advice to review your trust agreement for opening, initiating, changing, adding, clos- ing closing or terminating an account or service, or for any transaction on the account, you agree to pay all costs and expensesex- penses, including reasonable attorney fees, incurred for the review of your trust agreementagree- ment. You further agree that all costs and expenses of such review may be deducted from your account, and that you will be responsible for any additional amount owed according to the terms of this Agreement. For your and our protection, we may require you to prove your authority to negotiate a check pay- able payable to a trust before accepting any check for deposit, and may require you to de- posit deposit the check into an account for the trust.