Common use of Agency Designation on an Account Clause in Contracts

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 an 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 the right to approve the original form of Power of Attorney (POA) used to create an agency designation. We have no duty to inquire about the use or purpose of any transaction or any ownership change made by the agent. We have the right to refuse to honor a Power of Attorney in accordance with applicable law.

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 an 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 the right to approve the original form of Power of Attorney (POA) used to create an agency designation. We have no duty to inquire about the use or purpose of any transaction or any ownership change made by the agent. We have the right to refuse to honor a Power of Attorney in accordance with applicable law.

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 an 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 the right to approve the original form of Power of Attorney (POA) used to create an agency designation. We have no duty to inquire about the use or purpose of any transaction or any ownership change made by the agent. We have the right to The Credit Union may refuse to honor any agency designation done by you, whether done by a Power power of Attorney in accordance with applicable lawattorney or otherwise. If an individual ceases to be an owner of the account, any agency designation made by that individual shall immediately cease to be effective.