Common use of Dividend Payment Policy Clause in Contracts

Dividend Payment Policy. See the Account Disclosures section in these Agreements And Disclosures for Our policy on the payment of dividends. SUBSTITUTE SHARE DRAFTS AND YOUR RIGHTS THIS IS YOUR SUBSTITUTE SHARE DRAFT POLICY DISCLOSURE AND INSTRUCTIONS. IT CONTAINS IMPORTANT INFORMATION CONCERNING OUR SUBSTITUTE SHARE DRAFT POLICY AND NECESSARY DISCLOSURES AS REQUIRED BY THE CHECK CLEARING FOR THE 21ST CENTURY ACT (12 CFR 229 ET SEQ) AND SPECIAL INSTRUCTIONS REGARDING YOUR RIGHT TO FILE FOR AN EXPEDITED REFUND. PLEASE BE CERTAIN TO READ THESE AGREEMENTS AND DISCLOSURES CAREFULLY AND NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR. What is a substitute share draft? To make share draft processing faster, federal law permits banks to replace original share drafts with "substitute share drafts." These share drafts are similar in size to original share drafts with a slightly reduced image of the front and back of the original share draft. The front of a substitute share draft states: "This is a legal copy of Your check. You can use it the same way You would use the original check." You may use a substitute share draft as proof of payment just like the original share draft. Some or all of the share drafts that You receive back from Us may be substitute share drafts. This notice describes rights You have when You receive substitute share drafts from Us. The rights in this notice do not apply to original share drafts or to electronic debits to Your Account. However, You have rights under other law with respect to those transactions. What are my rights regarding substitute share drafts? In certain cases, federal law provides a special procedure that allows You to request a refund for losses You suffer if a substitute share draft is posted to Your Account (for example, if You think that We withdrew the wrong amount from Your Account or that We withdrew money from Your Account more than once for the same share draft). The losses You may attempt to recover under this procedure may include the amount that was withdrawn from Your Account and fees that were charged as a result of the withdrawal (for example, bounced share draft fees). The amount of Your refund under this procedure is limited to the amount of Your loss or the amount of the substitute share draft, whichever is less. You also are entitled to dividends on the amount of Your refund if Your Account is a dividend-bearing Account. If Your loss exceeds the amount of the substitute share draft, You may be able to recover additional amounts under other law. If You use this procedure, You may receive up to $2,500.00 of Your refund (plus dividends if Your Account earns dividends) within 10 business days after We received Your claim and the remainder of Your refund (plus dividends if Your Account earns dividends) not later than 45 calendar days after We received Your claim. We may reverse the refund (including any dividends on the refund) if We later are able to demonstrate that the substitute share draft was correctly posted to Your Account.

Dividend Payment Policy. See the Account Disclosures section in these Agreements And Disclosures for Our policy on the payment of dividends. SUBSTITUTE SHARE DRAFTS AND YOUR RIGHTS THIS IS YOUR SUBSTITUTE SHARE DRAFT POLICY DISCLOSURE AND INSTRUCTIONS. IT CONTAINS IMPORTANT INFORMATION CONCERNING OUR SUBSTITUTE SHARE DRAFT POLICY AND NECESSARY DISCLOSURES AS REQUIRED BY THE CHECK CLEARING FOR THE 21ST 21st CENTURY ACT (12 CFR 229 ET SEQ) AND SPECIAL INSTRUCTIONS REGARDING YOUR RIGHT TO FILE FOR AN EXPEDITED REFUND. PLEASE BE CERTAIN TO READ THESE AGREEMENTS AND DISCLOSURES CAREFULLY AND NOTIFY US AT ONCE IF ANY PARTS ARE UNCLEAR. What is a substitute share draft? To make share draft processing faster, federal law permits banks to replace original share drafts with "substitute share drafts." These share drafts are similar in size to original share drafts with a slightly reduced image of the front and back of the original share draft. The front of a substitute share draft states: "This is a legal copy of Your check. You can use it the same way You would use the original check." You may use a substitute share draft as proof of payment just like the original share draft. Some or all of the share drafts that You receive back from Us may be substitute share drafts. This notice describes rights You have when You receive substitute share drafts from Us. The rights in this notice do not apply to original share drafts or to electronic debits to Your Account. However, You have rights under other law with respect to those transactions. What are my rights regarding substitute share drafts? In certain cases, federal law provides a special procedure that allows You to request a refund for losses You suffer if a substitute share draft is posted to Your Account (for example, if You think that We withdrew the wrong amount from Your Account or that We withdrew money from Your Account more than once for the same share draft). The losses You may attempt to recover under this procedure may include the amount that was withdrawn from Your Account and fees that were charged as a result of the withdrawal (for example, bounced share draft fees). The amount of Your refund under this procedure is limited to the amount of Your loss or the amount of the substitute share draft, whichever is less. You also are entitled to dividends interest on the amount of Your refund if Your Account is a dividend-an interest- bearing Account. If Your loss exceeds the amount of the substitute share draft, You may be able to recover additional amounts under other law. If You use this procedure, You may receive up to $2,500.00 of Your refund (plus dividends interest if Your Account earns dividendsinterest) within 10 business days after We received Your claim and the remainder of Your refund (plus dividends interest if Your Account earns dividendsinterest) not later than 45 calendar days after We received Your claim. We may reverse the refund (including any dividends interest on the refund) if We later are able to demonstrate that the substitute share draft was correctly posted to Your Account.