Death of a joint account holder Sample Clauses

Death of a joint account holder. Upon the death of any of the joint account holders, without prejudice to the account being temporarily frozen in accordance with Article 43, the joint account will continue to operate on the signature of the surviving joint account holder(s). In the event of the death of any of the joint account holders, the joint and several entitlement to credit balances will enable the surviving joint account holder(s) to collect the assets held on the account. However, the surviving joint account holder(s) shall be solely accountable for such assets in respect of heirs of the deceased or their notary, to whom they must report. In the event of the death of any of the joint account holders, joint and several liability shall subsist among the surviving joint account holder(s) and the heirs of the deceased, up to the limit of the debit balance on the account at the date of death, plus undertakings arising from transactions in progress at that date. Said heirs shall be jointly and severally liable for the debt.
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Death of a joint account holder. In the event of death of any of the joint account holders, the account shall be frozen. Without prejudice to the provisions of Article 29, funds and securities shown on the account on the day of the death shall only be withdrawn or transferred upon the joint signature of firstly, all the other joint account holders, and secondly, the successors and assigns of the deceased. In such case, it is expressly specified that, in accordance with Article 1221(5) of the Civil Code, there will be joint and several liability among the surviving joint account holder(s) and the successors and assigns of the deceased. The joint account holders declare that they are fully cognizant with the legal obligations incumbent upon them as well as those upon the
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Death of a joint account holder. In the event of the death of any of the joint account holders, without prejudice to the account being temporarily frozen in accordance with Article 29, the joint account will continue to operate on the signature of the surviving joint account holder(s). In the event of the death of any of the joint account holders, the joint and several entitlement to credit balances will enable the surviving joint account holder(s) to collect the assets held on the account. However, the surviving joint account holder(s) shall be solely accountable for such assets in respect of heirs of the deceased or their notary, to whom they must report. In the event of death of any one of the joint account holders, joint and several liability shall subsist among the surviving joint account holder(s) and the successors and assigns of the deceased, up to the limit of the debit balance on the account on the date of death, plus undertakings arising from transactions in progress at that date. Said successors and assigns shall be jointly and severally liable for the debt. It is hereby specified that where the issuer of registered securities has not allowed the registration of securities in a joint account, the surviving joint account holder can only exercise the non-pecuniary rights attaching to these registered securities if they have been specifically designated for that purpose. In the event that the Bank receives instructions from successors and assigns pronouncing the free disposal of the joint account in favour of the surviving spouse who is a joint account holder, such instructions shall expressly mention the number of the single account opened at the Bank in the name of the surviving spouse to which the assets are to be transferred. This transfer shall not entail novation of the prior relationship established between the Bank and the surviving spouse joint account holder. The same shall apply if the Account holder is married under the regime of universal community of property with a clause specifying full allocation to the surviving spouse.
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Death of a joint account holder. In the event of the death of any of the bare owner(s), and without prejudice to the account being temporarily frozen pursuant to Article 29, the account shall continue to operate among the surviving bare owner(s), the successors and assigns of the deceased bare owner and the usufructuary(ies). In the event of the death of any of the usufructuary(ies), and without prejudice to the account being temporarily frozen pursuant to Article 29, the account shall continue to operate among the surviving usufructuary(ies) and the bare owner(s), unless otherwise provided. In the event of the death of a sole usufructuary, full ownership shall be consolidated among the bare owner(s), with the securities account then converted into a full ownership account in the name of the bare owner or a joint signatory account among the bare owners. The bare owner(s) and the usufructuary(ies) hereby declare that they are fully cognizant of the legal obligations incumbent upon survivor(s) and upon the Bank in the event that any of them should die.
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Death of a joint account holder. In the event of the death of one joint account holder, the Agreement will continue in respect of the surviving joint account holder as the only owner of the Account and the Client.
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Related to Death of a joint account holder

  • Death of Account Owner We may continue to honor all transfer orders, withdrawals, deposits, and other transactions on an account until we know of a member's death. Once we know of a member's death, we may pay checks or drafts or honor other payments or transfer orders authorized by the deceased member for a period of ten (10) days after that date unless we receive instructions from any person claiming an interest in the account to stop payment on the checks, drafts, or other items. We may require anyone claiming a deceased owner's account funds to indemnify us for any losses resulting from our honoring that claim. This Agreement will be binding upon any heirs or legal representatives of any account owner.

  • Death of Annuitant If the natural Owner and Annuitant are different, and the Annuitant dies before the Annuity Date, the Owner becomes the Annuitant until the Owner elects a new Annuitant. If there are Joint Annuitants, upon the death of any Annuitant prior to the Annuity Date, the Owner may elect a new Joint Annuitant. However, if the Owner is a non-natural person, We will treat the death of any Annuitant as the death of the "Primary Annuitant" and as the death of the Owner, see DEATH PROVISIONS.

  • DEATH OF BENEFICIARY Unless otherwise provided in the Beneficiary designation, if any Beneficiary dies before the Owner, that Beneficiary's interest will go to any other primary Beneficiaries named, according to their respective interests. If there are no primary Beneficiaries, the Beneficiaries' interest will pass to a contingent Beneficiary, if any. Prior to the Annuity Commencement Date, if no Beneficiary or contingent Beneficiary survives the Owner, the Death Benefits will be paid to the Owner's estate. Unless otherwise provided in the Beneficiary designation, once a Beneficiary is receiving Death Benefits or annuity payments under an Annuity Payment Option, the Beneficiary may name his or her own Beneficiary to receive any remaining benefits due under the Contract, should the original Beneficiary die prior to receipt of all benefits. If no Beneficiary is named or the named Beneficiary predeceases the original Beneficiary, any remaining benefits will continue to the original Beneficiary's estate. A Beneficiary designation must be made by Notice to LNY.

  • Joint Account 16.1 In the event that your Account (or any of them) is maintained jointly for you and one or more other persons (referred to as “Joint Account Holder” for the purpose of this Condition): (a) we may at our reasonable discretion issue any Citibank ATM/Debit Card to each Joint Account Holder without reference or notice to you (and such Citibank ATM/Debit Card may or may not come with the functionality enabling Card Transactions as we consider appropriate); (b) all references to “you” shall where the context allows include each and every Joint Account Holder in whose name the Account is maintained; (c) you shall be jointly and severally bound to observe comply and perform the duties and obligations in these Terms and Conditions; (d) we shall be entitled to make arrangements with or release any of you without thereby affecting in any way the obligations or continued liability of any other of them; (e) your liabilities shall not be affected in any way by any dispute or counterclaim or right of set-off which the Joint Account Holders may have against each other or by the discharge of any one of them for any reason or by the invalidity or unenforceability of any of these Terms and Conditions in relation to any of the Joint Account Holders or by the death, disability, mental incapacity or bankruptcy of any of the Joint Account Holders; (f) we shall be entitled to act or rely on any communication, request or instruction given or purported to be given by any Joint Account Holder (whether with or without your knowledge or authority) and you shall be bound by such communication, request or instruction; and (g) any Account Statement or notice relating to the use of any Citibank ATM/ Debit Card or any facilities or benefits relating to the Citibank ATM/Debit Card or any amendment to these Terms and Conditions dispatched to any Joint Account Holder shall be deemed to have been dispatched and received by each and every Joint Account Holder (including yourself) at the time when that Joint Account Holder receives or is deemed to have received the same.

  • Xxxx Individual Retirement Custodial Account The following constitutes an agreement establishing a Xxxx XXX (under Section 408A of the Internal Revenue Code) between the depositor and the Custodian.

  • Joint Accounts If any of your accounts accessed under this Agreement are joint accounts, all joint owners, including any authorized users, shall be bound by this Agreement and, alone and together, shall be responsible for all EFT transactions to or from any share and share draft or loan accounts as provided in this Agreement. Each joint account owner, without the consent of any other account owner, may, and is hereby authorized by every other joint account owner, make any transaction permitted under this Agreement. Each joint account owner is authorized to act for the other account owners, and the Credit Union may accept orders and instructions regarding any EFT transaction on any account from any joint account owner.

  • SIMPLE Individual Retirement Custodial Account (Under section 408(p) of the Internal Revenue Code) The participant named above is establishing a savings incentive match plan for employees of small employers individual retirement account (SIMPLE IRA) under sections 408(a) and 408(p) to provide for his or her retirement and for the support of his or her beneficiaries after death. The custodian named above has given the participant the disclosure statement required by Regulations section 1.408-6. The participant and the custodian make the following agreement:

  • What Forms of Distribution Are Available from a Xxxxxxxxx Education Savings Account Distributions may be made as a lump sum of the entire account, or distributions of a portion of the account may be made as requested.

  • Traditional Individual Retirement Custodial Account The following constitutes an agreement establishing an Individual Retirement Account (under Section 408(a) of the Internal Revenue Code) between the depositor and the Custodian.

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute?

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