Deceased Accounts. Unless restructured, the National Credit Union Share Insurance Fund insures a deceased member’s account as if he or she were still alive for six months after the member’s death. During this “grace period” the insurance coverage of the member’s accounts will not change unless the accounts are restructured by those authorized to do so. If the accounts are restructured, or upon the expiration of the six months if not restructured, the share insurance coverage provided by the National Credit Union Share Insurance Fund will be based on the actual ownership of the accounts. Any deceased member remaining on an account after a six-month period will be removed by the Credit Union.
Deceased Accounts. Purchaser shall receive a masterfile tape of Accounts as of May 21, 1999. Purchaser shall deliver the masterfile tape of Accounts to a deceased database of Purchaser's choice for a match using primary cardholder name and social security number, and will ensure that results of the match are provided to both Purchaser and Seller. Any Account that matches to the database if the date of death occurred before the Cut-Off Time shall be considered an Excluded Account for purposes of calculating the Purchase Price and will be included in the Valuation Date Statement. Purchaser shall receive another masterfile tape of Accounts as of the Cut-Off Time. Purchaser shall deliver the masterfile tape of Accounts to a deceased database of Purchaser's choice for a match using primary cardholder name and social security number, and will ensure that results of the match are provided to both Purchaser and Seller. Any Account that matches to the database if the date of death occurred before the Cut-Off Time shall be an Excluded Account. Any Account identified through this match that was not included in the Valuation Date Statement shall be included as an adjustment in the Settlement Date Statement. The expenses relating to the database matching under this Section 3.3(a)(ii) shall be borne by Purchaser.
(b) Seller shall deliver to Purchaser the Valuation Date Statement, along with the masterfile tape, supporting calculations for the Accrued Interest, Unearned Annual Fee and Cardholder rewards liability, and the masterfile extension record, at least three (3) Business Days prior to the Closing Date.
Deceased Accounts. Agent will conduct diligent research and investigation, at Agent’s sole cost, to determine who is the estate representative of any deceased Account holders. • In the event that the estate representative of a deceased Account is located, the Agent will contact the estate representative of the account. Agent will coordinate these efforts with Equity Stock Transfer, including completing Equity Stock Transfer’s required forms. • For estate representatives of Accounts, Agent will offer the following services: o Liquidate Account on behalf of the estate of the Account holder. • Agent will negotiate a reasonable fee with the estate representative of the deceased account holder to be paid directly from the Account for providing these services. MarketSphere will be responsible for working with the Equity Stock Transfer project team and management on the following: • Create annual reporting calendar and hold planning conference call with Equity Stock Transfer. • Finalize escheatable items to be processed and review with Equity Stock Transfer. • Prepare preliminary state reports and forward to Equity Stock Transfer for approval within thirty (30) days prior to state reporting deadlines. • Supply Equity Stock Transfer with the following information: o Preliminary escheatment detail report o Final state report package • Format the data into each state’s required format. • Prepare final reports (needed for all states) at least fifteen (15) days prior to due dates. • MarketSphere, as Equity Stock Transfer’s unclaimed property agent, will execute and submit all reports, and remit property to the states on Equity Stock Transfer’s behalf. • Prepare custodial account to remit payments to the states. Equity Stock Transfer shall send funds to MarketSphere’s custodial trust account within 5 days of receipt of instructions to ensure timely remittance to the states. • Provide Equity Stock Transfer with the securities delivery instructions. • Create and administer a secure access website (SharePoint Site) to be used for all data and file transfer, and as a data warehouse to house copies of all unclaimed property reports filed by MarketSphere on behalf of Equity Stock Transfer. • MarketSphere will make available on the secure access site for a period of two years fromdate of reporting, the data file(s), report submission package, electronic reports, and tracking/delivery confirmation. After two years, MarketSphere will remove all data records from their unclaimed property software ...
Deceased Accounts. 43.1 If we receive notice of your death we will immediately freeze your investment. Notice of death will be accepted if received in any form that we consider valid in our absolute discretion. No action will be taken to further the investment until such time as a grant of probate (or equivalent) has been received or it becomes evident that the notice of death was invalid, in which case, Services will be resumed. Where we have reasonable grounds for suspecting that you have died, it may be necessary to disclose information about your investment prior to receipt of formal notice of death and we will have no liability to your estate in such circumstances.
43.2 Notwithstanding clause 43.1, we may continue to provide Services under these Terms where a person with appropriate authority to manage the deceased’s account has signed an appropriate indemnity.
43.3 In the case of an ISA investment, tax exemptions will cease from the date of death. If necessary, we will redeem sufficient investments as required to repay any tax credits received from HMRC, in respect of distributions with a payment date after the date of death.
43.4 This clause 43 will not apply if your account is held jointly with a surviving account holder.
