Common use of Convenience Signer Accounts Clause in Contracts

Convenience Signer Accounts. Certain personal Accounts may be established in the name of one or more Owners and one or more “convenience signers.” Sums on deposit may be paid or delivered to the Parties for the convenience of the Owners. The convenience signers do not own the Account, do not have right of survivorship, and are not Payable on Death beneficiaries of the Account unless so designated, and will lose access to the Account after we receive written notice of the death of the last surviving Owner. You will not hold us liable for making a payment from the Account before receiving notice in writing signed by an Owner or any other authorized person not to make the payment in accordance with the terms of the Account. We will not be liable for paying any funds on deposit to a convenience signer after the death of the last surviving Owner’s death and before we have received written notice of the death. If, after the death of the last surviving Owner, we make payment to the personal representative of the Owner’s estate and later receive a court order prohibiting payment, we will not be held liable, to the extent of the payment, to any person claiming a right to the funds.

Convenience Signer Accounts. Certain personal Accounts may be established in the name of one or more Owners and one or more “convenience signers.” Sums on deposit may be paid or delivered to the Parties for the convenience of the Owners. The convenience signers do not own the Account, do not have right of survivorship, and are not Payable on Death beneficiaries of the Account unless so designated, and will lose access to the Account after we receive written notice of the death of the last surviving Owner. You will not hold us liable for making a payment from the Account before receiving notice in writing signed by an Owner or any other authorized person not to make the payment in accordance with the terms of the Account. We will not be liable for paying pay- ing any funds on deposit to a convenience signer after the death of the last surviving Owner’s death and before we have received written notice of the death. If, after the death of the last surviving Owner, we make payment to the personal representative of the Owner’s estate and later receive a court order prohibiting payment, we will not be held liable, to the extent of the payment, to any person claiming a right to the funds.