Common use of Change in Ownership or Authorized Signers Clause in Contracts

Change in Ownership or Authorized Signers. If you wish to add an owner to, delete an owner from, or otherwise change the ownership of an account, we may require you to close the account, to surrender any passbook or similar account documents, and to open a new account listing the new owners. If the account is a Certificate of Deposit, we may require you to pay any applicable early withdrawal penalty when you close the account. If you wish to add, delete or change authorized signers on an account without changing account ownership, you will be required to provide us with new signature cards and a new deposit account resolution that is acceptable to us.