Effect of Direction. The Custodian and its agents may conclusively rely upon and shall be protected in acting upon any direction from the Investment Professional or the Participant (or the Participant’s Authorized Agent or, following the death of the Participant, his or her beneficiary, executor or administrator) believed by it to be genuine, and, so long as it acts in good faith, in taking or omitting to take any other action. The Custodian shall have no duty to question the directions of the Investment Professional or the Participant (or the Participant’s Authorized Agent, beneficiary, executor or administrator), regarding the investment of the assets in the Participant’s SIMPLE IRA or to advise such persons regarding the purchase, retention or sale of such investments, nor shall the Custodian or the Sponsoring Organization or any of their affiliates be liable for any loss that results from the exercise of control (whether by his or her action or inaction) over the Participant’s SIMPLE IRA by the Participant (or the Participant’s Authorized Agent, beneficiary, executor or administrator).
Appears in 4 contracts
Samples: Simple Ira Plan Agreement, Simple Ira Plan Agreement, Simple Ira Plan Agreement
