Common use of Establishment of Custodial Account Clause in Contracts

Establishment of Custodial Account. 2.1 The Custodian shall open and maintain a Custodial Account for each eligible Employee who completes an Application; and the Sponsor shall hold and administer, in accordance with the terms hereof, contributions to the Custodial Account and any gain, loss or income from the investment thereof. The Employee shall notify the Sponsor in writing of any change in name, address, or Social Security Number.

Establishment of Custodial Account. 2.1 The Custodian Sponsor shall open and maintain a Custodial Account for each eligible Employee who completes an Application; and the Sponsor Custodian shall hold and administer, in accordance with the terms hereof, contributions to the Custodial Account and any gain, loss or income from the investment thereof. The Employee shall notify the Sponsor in writing of any change in name, address, or Social Security Number.