Common use of Authority of Authorized Signers Clause in Contracts

Authority of Authorized Signers. The persons named on the Business Services Application or Resolution of Authority are authorized to transact any business of any nature with the Credit Union on behalf of the Account Owner, and take any action regarding the Accounts. The Account Owner agrees to notify the Credit Union in writing of any change in the Authorized Signer’s authority. The Credit Union may request any other evidence of an Authorized Signer’s authority at any time. The Credit Union is directed to accept and pay without further inquiry any item signed by an Authorized Signer drawn against any of the Member’s accounts. Unless otherwise indicated, any one Authorized Signer is expressly authorized to endorse all items payable to or owned by the Member/Account Owner for deposit with or collection by the Credit Union and to perform any other transaction permitted under the Agreement. The authority given to the Authorized Signers named on the Business Services Application shall remain in full force until written notice of revocation or a Business Services Application Supplement or a new Resolution of Authority is delivered to and received by the Credit Union. Any such notice shall not affect any items in process at the time notice is given. An Authorized Signer shall notify the Credit Union of any change in the Member’s composition, assumed business names, or any aspect of the entity affecting the deposit relationship between the Member/Account Owner and the Credit Union before any such change occurs. The Credit Union shall have no duty to inquire as to the powers and duties of any Authorized Signer and shall have no notice of any breach of fiduciary duties by any Authorized Signer unless the Credit Union has actual notice of wrongdoing.

Authority of Authorized Signers. The persons named on the Business Services Application Account Card or Resolution Account Change of Authority are authorized to transact any business of any nature with the Credit Union on behalf of the Member/Account Owner, and take any action regarding the Accounts. The Member/Account Owner agrees to notify the Credit Union in writing of any change in the Authorized Signer’s Signers’ authority. The Credit Union may request any other evidence of an Authorized Signer’s authority at any time. The Credit Union is directed to accept and pay without further inquiry any item item, signed by an Authorized Signer drawn against any of the Member’s accounts. Unless otherwise indicated, any one Authorized Signer is expressly authorized to endorse all items payable to or owned by the Member/Account Owner Member for deposit with or collection by the Credit Union and to perform any other transaction permitted under the Agreement. The authority given to the Authorized Signers named on the Business Services Application Membership Application/Update shall remain in full force until written notice of revocation or a Business Services Application Supplement or a new Resolution of Authority Membership Application/Update is delivered to and received by the Credit UnionUnion at each location where an account is maintained. Any such notice shall not affect any items in process at the time notice is given. An Authorized Signer shall notify the Credit Union of any change in the Member’s composition, assumed business names, or any aspect of the entity affecting the deposit relationship between the Member/Account Owner Member and the Credit Union before any such change occurs. The Credit Union shall have no duty to inquire as to the powers and duties of any Authorized Signer and shall have no notice of any breach brea ch of fiduciary duties by any Authorized Signer unless the Credit Union has actual notice of wrongdoing.

Authority of Authorized Signers. The persons named on the Business Services Application Account Card or Resolution Account Change of Authority are authorized to transact any business of any nature with the Credit Union on behalf of the Member/Account Owner, and take any action regarding the Accounts. The Member/Account Owner agrees to notify the Credit Union in writing of any change in the Authorized Signer’s Signers’ authority. The Credit Union may request any other evidence of an Authorized Signer’s authority at any time. The Credit Union is directed to accept and pay without further inquiry any item item, signed by an Authorized Signer drawn against any of the Member’s accounts. Unless otherwise indicated, any one Authorized Signer is expressly authorized to endorse all items payable to or owned by the Member/Account Owner Member for deposit with or collection by the Credit Union and to perform any other transaction permitted under the Agreement. The authority given to the Authorized Signers named on the Business Services Application Membership Application/Update shall remain in full force until written notice of revocation or a Business Services Application Supplement or a new Resolution of Authority Membership Application/Update is delivered to and received by the Credit Union. Any such notice shall not affect any items in process at the time notice is given. An Authorized Signer shall notify the Credit Union of any change in the Member’s composition, assumed business names, or any aspect of the entity affecting the deposit relationship between the Member/Account Owner Member and the Credit Union before any such change occurs. The Credit Union shall have no duty to inquire as to the powers and duties of any Authorized Signer and shall have no notice of any breach of fiduciary duties by any Authorized Signer unless the Credit Union has actual notice of wrongdoing.