Common use of Death or Incompetence of Account Owner Clause in Contracts

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. 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. We will generally suppress periodic statements on Single-Party deceased account upon death notification. However periodic statements are available upon request to the decedent’s heirs or legal representative.

Death or Incompetence of Account Owner. You agree to notify the Credit Union promptly in the event of any death or adjudicated incompetence of any Account Owner or Authorized User. We may place a hold on the Account funds, continue to accept deposits to an Accountdeposits, to pay items drawn against an Accountitems, to pay other payment orders against an Accountorders, and allow any other transactions with respect to an Account until we are notified of an Account Owner’s Owner or Authorized User death or of an adjudication of incompetence 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 We may pay items drawn against the an Account or other payment orders authorized by the deceased or incompetent Account Owner even after notification unless we are ordered to receive a stop payment by a person claiming an interest in the Account. We may will require any person claiming an interest in the Account to indemnify us agree to indemnify, defend, and hold the Credit Union harmless against any losses arising out of the payment of any such claim, and this . This 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 continue to pay dividends on an Account following the death of an Account Owner. Surviving joint owners If any surviving Legal Owner is a Primary Member of the Credit Union on a different account, we may continue to maintain require that the Account be closed and the funds be transferred to the surviving Legal Owner’s Primary Membership Account. In distributing Account proceeds upon account ownership restructuringthe death or incompetency of any Owner or Authorized User, you consent that we may rely upon the Account Application at the time of any such death or incompetency.

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, Account and allow any other transactions with respect to an Account until we are notified of an Account Ownerowner’s death or of an adjudication of incompetence 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 a member's death or adjudicated incompetence, we may pay items drawn against the Account or other payment orders authorized by the deceased Account Owner 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 this Account Agreement will be binding upon the heirs or legal representatives of any deceased Account Owner owner or any Account Owner owner who is adjudicated incompetent. We may continue to pay dividends on an Account following the death of an Account Ownerowner. Surviving If any surviving joint owners owner is a member of the Credit Union, we may continue to maintain require that the Account upon account ownership restructuringbe closed and reopened in the name of that surviving Joint Owner.

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, 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 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 noti- fied of an Ownera member’s death or adjudicated incompetence, we may pay items drawn against the Account or other payment orders authorized by the deceased Account Owner owner for a period of 10 days after the Ac- count 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 this 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 continue to pay dividends on an Account following the death of an Account Owner. Surviving On the death of the primary owner of a joint owners Account, if any surviving Joint Owner is a member of the Credit Union, we may continue to maintain require that the Account upon account ownership restructuringbe closed and the funds transferred to the surviving Joint Owner’s Account.