Death or Adjudication of Incompetency Sample Clauses

Death or Adjudication of Incompetency. If the Company is continued in accordance with Section 11.1(B) below following the death or adjudication of incompetency of a Member, such Member's Interest shall not be terminated or repurchased and the successor-in-interest or legal representative of such Member shall thereafter be the Member with respect to such Interest and such successor-in-interest shall be substituted as a Member upon compliance with the terms and conditions of Section 10.2.
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Death or Adjudication of Incompetency. We may freeze, refuse, or reverse deposits and transactions and/or return governmental benefit payments made to the Card if you die or are adjudicated incompetent. If you give us instructions regarding your Card which are to be effective at a future date, and you die or are adjudicated incompetent prior to the date you specified, then the instructions shall be effective, unless we receive written notice of death or incompetency prior to honoring such instructions.
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Death or Adjudication of Incompetency. You agree to notify us immediately of the death or court-declared incompetency of any account owner on your account. We may freeze, refuse, or reverse deposits and transactions and/or return governmental benefit payments made to the account owner if an account owner dies or if an account owner is adjudicated incompetent. If you give us instructions regarding your account which are to be effective upon the maturity of your account, and you or another account owner of the account dies or is adjudicated incompetent prior to its maturity, then the instructions shall be effective, unless we receive written notice of death or incompetency prior to honoring such instructions. 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 a member’s death, we may pay checks 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 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. If you do not select a joint owner on your checking account, in the event of your death, funds will be transferred to your primary savings account and paid to the joint owner (if applicable) or to the beneficiary(ies) named on the primary savings account.
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Death or Adjudication of Incompetency. We may freeze, refuse, or reverse deposits and transactions and/or return governmental benefit payments made to the Accountholder if you die or are adjudicated incompetent. If you give us instructions regarding your Account which are to be effective at a future date, and you die or are adjudicated incompetent prior to the date you specified, then the instructions shall be effective, unless we receive written notice of death or incompetency prior to honoring such instructions.
Sample 1
Death or Adjudication of Incompetency. You agree to notify us immediately of the death or court-declared incompetency of any account owner on your account. We may freeze, refuse, or reverse deposits and transactions and/or return governmental benefit payments made to the account owner if an account owner dies or if an account owner is adjudicated incompetent. If you give us instructions regarding your account which are to be effective upon the maturity of your account, and you or another account owner of the account dies or is adjudicated incompetent prior to its maturity, then the instructions shall be effective, unless we receive written notice of death or incompetency prior to honoring such instructions. 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 a member’s death, we may pay checks 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 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. If you do not select a joint owner on your checking account, in the event of your death, funds will be transferred to your primary savings account and paid to the joint owner (if applicable) or to the beneficiary(ies) named on the primary savings account. LEGAL PROCESS AND COLLECTION‌ 1. Legal Process - We may accept and comply with any writ of attachment, execution, garnishment, tax withhold order or other levy, subpoena, warrant, injunction, restraining order, government agency request for information or other legal process relating to your account which we believe (correctly or incorrectly) to be valid and binding regardless of our location or method of service on us even if the law requires personal service at the branch of record or other specified location for your account or where the records are stored (but we reserve the right to require service at such location as may be required by law). We may, but are not required to, give you notice of any such legal process except as required by law and will not do so if prohibited by law. A legal processing fee, hourly research fee and copy charges may be assessed unl...
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Related to Death or Adjudication of Incompetency

  • Death or Incompetence You agree to notify us promptly in writing if any account holder or other person with a right to withdraw funds from your account dies or becomes legally incompetent. We may continue to honor all instructions and funds transfer requests from such a person until: (a) we know, with reasonable certainty, of the death or legal incompetence of an account holder or other person with a right to withdraw funds, and (b) we have had a reasonable opportunity to act on that knowledge. You agree that we may honor funds transfers requested or initiated on or before the date of death or legal incompetence of an account holder or other person with a right to withdraw funds for up to ten (10) days after we determine that death or legal incompetence occurred, unless we are ordered to stop payment by someone with or claiming a legitimate interest in the account. We may require a reasonable proof of death or adjudication of incompetence. Until we receive notice and any required proof of death or incompetence, we may act as if all account holders and other persons with a right to withdraw funds are alive and competent. We may restrict access to your account upon notice of your death or legal incompetence until the appropriate documentation is provided to us by your executor, administrator or legal representative. Where a Joint Account owner dies, we may require the surviving Joint Account owner to provide us with certain documentation satisfactory to us before we will release the remaining funds in a Joint Account. Transferring Account Ownership. You may not transfer, assign or pledge any account without our Disputed Ownership of an Account. If we receive any conflicting instructions or claims to funds that are in an account, we may, in our sole discretion: (a) restrict the account and deny access to the funds; (b) hold the funds without liability to anyone until the conflicting claims are resolved to our satisfaction; (c) close the account and send the funds to the owner(s) of the account at the address on our records; and/or (d) refer the matter to an appropriate court or arbitrator for judgment or decision. (See also the “Dispute Resolution” section at the end of this agreement.) If we are notified of a dispute, we do not have to decide if the dispute has merit before we take further action. We may take these actions without any liability and without advance notice, unless required by applicable law. Levies and Garnishments. We must comply if we are served with any notice of garnishment or attachment, tax levy, injunction, restraining order, subpoena, or other legal process relating to your account. We may charge a legal process fee and may assess this fee against any account you maintain with us, including the account that is subject to the legal process. Levies and garnishments are subject to our right of set-off and security interests to the fullest extent permitted by applicable law. CLOSING OR FREEZING ACCOUNTS, INACTIVE ACCOUNTS Closing or Freezing Accounts. We may, at any time and without notice to you, close your account and terminate this agreement as to that account (except for those provisions of this agreement that are intended to survive account closing and termination) or freeze your account (close your account to further deposits, withdrawals, funds transfers and other account activity), if we believe the account was used in a manner that is inconsistent with the terms of this agreement; for example, by:

  • Incompetence Willful misconduct;

Most Referenced Clauses

Most Referenced Definitions