Custodian Acting in Directed Capacity Only Sample Clauses

Custodian Acting in Directed Capacity Only. No Investment or Tax Advice (i) We are acting solely as a directed Custodian to hold CESA assets and we have no discretion to direct any investment in this CESA. Accordingly, we are not a fiduciary (as said term is defined in the Internal Revenue Code, ERISA, or any other applicable federal, state or local laws) with respect to your CESA Account. (ii) It is not our responsibility to review the prudence, merits, viability or suitability of any investment directed by the Responsible Individual or his/her agent(s) or to determine whether the investment is suitable for the Designated Beneficiary or acceptable under ERISA, the Internal Revenue Code or any other applicable law. (iii) We do not offer any investment advice, nor do we endorse any investment, investment product or investment strategy; and we do not endorse any investment advisor, representative, broker, dealer, or other third party selected by the Responsible Individual. We have no responsibility to question any investment direction given by the Responsible Individual or by any representative/agent appointed by him/her. By agreeing to custody an asset, such action does not constitute marketing or endorsing that asset by us. It also does not speak to the viability of that asset. (iv) We do not provide legal or tax advice with respect to the assets in the CESA Account. (v) We have no duty to inform you of any information on an asset held in the CESA Account which we may have learned in connection with another account or customer or from any source. (vi) By performing services under this Agreement, we are acting at the direction of the Responsible Individual. We shall not be required to perform any additional services unless specifically agreed to under the terms and conditions of this Agreement, or as required under the Code and the Regulations promulgated thereunder with respect to CESAs. We employ agents and organizations, including but not limited to Equity Administrative Services, Inc., for the purpose of performing administrative or other Custodial-related services with respect to your CESA for which we otherwise have responsibility under this Agreement, and the limitations on our duties to you under this Agreement or otherwise shall also apply with respect to each agent or organization so employed. (vii) We shall be under no obligation or duty to investigate, analyze, monitor, verify title to, or otherwise evaluate any investment directed by the Responsible Individual or his/her investment advis...
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