Common use of Death of Account Owner Clause in Contracts

Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits and other transactions on an account until we are notified of a member's death. Once we are notified of an Account Owner's death, we may pay drafts or honor other payments or transfer orders authorized by the Account Owner 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 drafts or other items. We may require anyone claiming a deceased Account 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 that is an individual or organized as a sole proprietorship. For all other Business Accounts, the Credit Union will require any document(s) evidencing authorized signers, a new Membership Application and the death certificate of the decedent.

Appears in 2 contracts

Samples: Membership Account Agreement, Membership Account Agreement

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Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits and other transactions on an account until we are notified of a member's ’s death. Once we are notified of an Account Owner's a member’s death, we may pay drafts or honor other payments or transfer orders authorized by the Account Owner 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 drafts or other items. We may require anyone claiming a deceased Account Owner's 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 that is an individual or organized as a sole proprietorship. For all other Business Accounts, the Credit Union will require any document(s) evidencing authorized signers, a new Membership Application and the death certificate of the decedentaccount owner.

Appears in 2 contracts

Samples: Membership and Account Agreement, Membership and Account Agreement

Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits deposits, and other transactions on an account until we are notified of a member's ’s death. Once we are notified of an Account Owner's a member’s death, we may pay drafts or honor other payments or transfer orders authorized by the Account Owner 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 drafts or other items. We may require anyone claiming a deceased Account Owner's 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 that is an individual or organized as a sole proprietorship. For all other Business Accounts, the Credit Union will require any document(s) evidencing authorized signers, a new Membership Application and the death certificate of the decedentaccount owner.

Appears in 1 contract

Samples: www.firstbasin.com

Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits and other transactions on an account until we are notified of a member's ’s death. Once we are notified of an Account Owner's ’s death, we may pay drafts or honor other payments or transfer orders authorized by the Account Owner 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 drafts or other items. We may require anyone claiming a deceased Account Owner's ’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 that is an individual or organized as a sole proprietorship. For all other Business Accounts, the Credit Union will require any document(s) evidencing authorized signers, a new Membership Application and the death certificate of the decedent.

Appears in 1 contract

Samples: Membership Account Agreement

Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits and other transactions on an account until we are notified notified of a member's ’s death. Once we are notified notified of an Account Owner's a member’s death, we may pay drafts or honor other payments or transfer orders authorized by the Account Owner 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 drafts or other items. We may require anyone claiming a deceased Account Owner's 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 that is an individual or organized as a sole proprietorshipaccount owner. For all other Business Accounts, the Credit Union will require any document(s) evidencing authorized signers, a new Membership Application and the death certificate of the decedent28.

Appears in 1 contract

Samples: Membership and Account Agreement

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Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits and other transactions on an account until we are notified of a member's death. Once we are notified of an Account Ownera member's death, we may pay drafts or honor other payments or transfer orders transferorders authorized by the Account Owner for a bythe deceasedmemberfora period of ten often (10) days after that 10)days afterthat date unless we receive instructions from any person claiming an interest in the account to stop payment on the drafts or other items. We may require anyone claiming a deceased Account Owner's account funds to owner'saccountfundsto indemnify us for any losses resulting from foranylossesresultingfrom our honoring that claimhonoringthatclaim. This Agreement will be binding upon any heirs or legal representatives of any Account Owner that is an individual or organized as a sole proprietorship. For all other Business Accounts, the Credit Union will require any document(s) evidencing authorized signers, a new Membership Application and the death certificate of the decedentaccount owner.

Appears in 1 contract

Samples: Membership and Account Agreement

Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits and other transactions on an account until we are notified of a member's an owner’s death. Once we are notified of an Account Owner's owner’s death, we may pay drafts or honor other payments or transfer orders authorized by the Account Owner deceased owner 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 drafts or other items. We may require anyone claiming funds from an account of a deceased Account Owner's account funds owner 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 that is an individual or organized as a sole proprietorship. For all other Business Accounts, the Credit Union will require any document(s) evidencing authorized signers, a new Membership Application and the death certificate of the decedentaccount owner.

Appears in 1 contract

Samples: Agreement

Death of Account Owner. We may continue to honor all transfer orders, withdrawals, deposits and other transactions on an account until we are notified of a member's death. Once we are notified of an Account Owner's ’s death, we may pay drafts or honor other payments or transfer orders authorized by the Account Owner 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 drafts or other items. We may require anyone claiming a deceased Account Owner's ’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 that is an individual or organized as a sole proprietorship. For all other Business Accounts, the Credit Union will require any document(s) evidencing authorized signers, a new Membership Application and the death certificate of the decedent.

Appears in 1 contract

Samples: Membership Account Agreement

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