Death or Incompetence 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 or adjudication of incompetence and are provided satisfactory evidence thereof, such as a certified death certificate or court order. Once we are notified of a member's death or incompetence, we may pay drafts or honor other payments or transfer orders authorized by the 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 the owner's account funds to indemnify us for any losses resulting from our honoring that claim. Upon the death of an individual account owner, we will pay all funds on deposit in accordance with the specific instructions on the Account Card such as to a Payable on Death Beneficiary. If there is no beneficiary designation, no probate proceedings or no estate, we may, but are not required to, pay the funds to any heir, who will be solely responsible for any further distribution of the funds. Alternatively, we may hold the funds until a proper court order is presented to us. We may require proper documentary evidence satisfactory to us before we determine the proper treatment of the funds and before we will release funds to any claiming party. Funds in a joint account will be payable subject to the provision, "Joint or Multiple Party Accounts". Any payment of funds upon the death or incompetence of any account holder is subject to our lien and security interest. This Agreement will be binding upon any heirs or legal representatives of any account owner.
Death or Incompetence of Account Owner. We may continue to accept deposits to an account, to pay items drawn against an account, to pay other payment orders against an account and allow any other transactions with respect to an account until we are notified of an account Owner’s death or of an adjudication of incompetence, and we have a reasonable opportunity to act upon any such notice. Subject to our policies and procedures, and subject to any separate agreement we may enter into with any surviving account Owner, once we are notified of an Owner’s death, we may pay items drawn against the account or other payment orders authorized by the deceased account Owner for a period of ten days after the account Owner’s death unless we are ordered to stop payment by a person claiming an interest in the account. We may require any person claiming an interest in the account to indemnify us against any losses arising out of the payment of any such claim, and the account agreement will be binding upon the heirs or legal representatives of any deceased account Owner or any account Owner who is adjudicated incompetent. We may discontinue to pay dividends or interest on an account following the death of an account Owner. If any surviving joint owner is a member of the Credit Union or is eligible for membership, we may require that the account be closed and reopened in the name of that surviving Joint Owner. If a deceased account Owner has any loans with us, funds may be placed on hold until we have a reasonable amount of time to determine member liability.
Death or Incompetence of Account Owner. We may place a hold on the Account funds, continue to accept deposits to an Account, to pay items drawn against an Account, to pay other payment orders against an Account, and allow any other transactions with respect to an Account until we are notified of an Account Owner’s death or of an adjudication of incompetence and we have a reasonable opportunity to act upon any such notice. Subject to our policies and procedures, and subject to any separate agreement we may enter into with any surviving Account holder, once we are notified of an Owner’s death or adjudicated incompetence, we may pay items drawn against the Account or other payment orders authorized by the deceased Account Owner unless we are ordered to stop payment by a person claiming an interest in the Account. We may require any person claiming an interest in the Account to indemnify us against any losses arising out of the payment of any such claim, and this Agreement will be binding upon the heirs or legal representatives of any deceased Account Owner or any Account Owner who is adjudicated incompetent. We may continue to pay dividends on an Account following the death of an Account Owner. Surviving joint owners may continue to maintain the Account upon account ownership restructuring.
Death or Incompetence of Account Owner. Tell us immediately if any Account owner dies or is declared incompetent by a court. We may act as if all owners are alive and competent until we receive notice otherwise. After we receive notice of death or incompetence, we may freeze your balance, refuse to accept transactions, and reverse or return deposits. We are also not required to release your funds until we receive any documents we reasonably request to verify your death or incompetence, as well as who is entitled to the funds. If we have any tax liability because of paying your balance to your estate, the estate will be responsible for repaying us the amount of that tax. If an Account owner authorizes any transaction, but it’s not presented for payment until after that owner dies, we are authorized to pay the transaction. If you owe us a debt at the time of your death, we are authorized to exercise our right of setoff (our right to apply funds in one Account to the debt associated with another Account) or security interest rights against the funds credited to your balance after your death. We have these rights even if a surviving joint owner, a “payable on death” payee, or a beneficiary of an “in trust for” or “trustee for” Account has rights to the Account.
Death or Incompetence of Account Owner. E. CHECKING AND SAVINGS ACCOUNTS
1. Types of Transactions
2. Types of Account Balances
3. Interest
4. Verification of Transactions and Our Right to Reverse or Adjust Transactions 5. Posting Order 6. Checks and Deposit Slips F. STATEMENTS, NOTICES AND CHECK SAFEKEEPING
1. Account Statements
2. Your Obligation to Review Your Statement 3. Changes in Name and/or Contact Information
Death or Incompetence of Account Owner. You agree to notify the Credit Union if any person with a right to withdraw funds from your account dies or becomes legally incompetent. The Credit Union may continue to honor all transfers, withdrawals, deposits and other transactions on the account until the Credit Union is notified of the member's death or of a court adjudication of incompetency. Once the Credit Union is notified, the Credit Union may pay drafts or honor other payments or transfer orders authorized by the deceased/incompetent member for a period of ten (10) days unless the Credit Union receives instructions from any person claiming an interest in the account to stop payment on the share draft checks or other items. You agree that the Credit Union can require that anyone who claims funds in your account after your death indemnify the Credit Union for any losses resulting from honoring that claim. In the event you are adjudicated incompetent by a court order, all activity on your account will be by court order if the account is a single party account. This Agreement will be binding upon any heirs or legal representatives of any account owner.
Death or Incompetence of Account Owner. We may continue to honor all checks, items, drafts, transfer orders, withdrawals, deposits, and other transactions on an account until we know of a member’s death or incompetence. Once we know of a member’s death or incompetence, we may pay checks, items, drafts, transfer orders, withdrawals, and other transactions authorized by that 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, items, drafts, transfer orders, withdrawals, and other transactions. We may require anyone claiming a de- ceased or incompetent owner’s account funds to indemnify us for any losses resulting from our honoring that claim. This Agreement will be binding upon the heirs or other legal representatives of any account owner. Upon death of a member or joint owner, we may provide the Commonwealth of Pennsylvania the account balances or other information as required by law.
Death or Incompetence 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 or adjudication of incompetence and are provided satisfactory evidence thereof, such as a certified death certificate or court order. Once we are notified of a member's death or incompetence, we may pay checks or honor other payments or transfer orders authorized by the member for a period of ten (10) days after the date of death 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 the 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. 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. If there is no beneficiary designation, no probate proceedings or no estate, we may, but are not required to, pay the funds to any heir, who will be solely responsible for any further distribution of the funds. Alternatively, we may hold the funds until a proper court order is presented to us. We may require proper documentary evidence satisfactory to us before we determine the proper treatment of the funds and before we will release funds to any claiming party. All dividend payments to an account may cease to accrue effective the date of death of the primary owner, and any dividend payments made after the date of death of the primary owner may be reversed from the account upon the Credit Unions receipt of notice of the death of the primary owner. Any payment of funds upon the death or incompetence of any account holder is subject to our lien and security interest. This Agreement will be binding upon any heirs or legal representatives of any account owner. Additionally, when notified of the death of a primary member, any account where there is a joint owner may be closed within a reasonable amount of time in accordance with the Credit Union's policies and procedures. Any account where there is a deceased joint owner will result in the removal of that joint owner within a reasonable amount of time after notification. Any deposits made payable to, or in the name of, a deceased member or owner will not be accepted (except as limited in the preceding parag...
Death or Incompetence of Account Owner. You agree to tell us if any Account owner dies or is declared incompetent by a court and provide us with appropriate documentation. We may act as if all Account owners are alive and competent until we receive written notice otherwise. After we receive such notice, we may freeze the Account, refuse to accept transactions, and/or reverse or return deposits. This includes government and retirement benefit payments payable to the deceased. If your Account is a joint Account, if one (1) joint owner dies, the balance in the Account at the time we are provided evidence of the death in the form of a death certificate will automatically pass to the surviving owner(s) who will continue to own the Account as joint owners or, in the case of one (1) surviving owner, as an individual Account owner. We are authorized to pay transactions authorized by an Account owner prior to that owner’s death. If we have any question as to the ownership of funds in an Account at the time of any Account owner’s death or incompetence, we may freeze all or part of the Account pending evidence, satisfactory to us, of each person’s right to the funds. If you owe us a debt at the time of your death, we may exercise our right to apply funds in one of your Accounts to the debt associated with another of your Accounts.
Death or Incompetence of Account Owner. (Sole Proprietor)/ Authorized Person, or Termination of Business
