Common use of Fiduciary Accounts Clause in Contracts

Fiduciary Accounts. Betterment Securities does not review any action or inaction of a Fiduciary with respect to an Account and is not responsible for determining whether a Fiduciary's action or inaction satisfies the standard of care applicable to such Fiduciary's handling of an Account. Betterment Securities is not responsible for determining the validity of a person or entity's status or capacity to serve as a Fiduciary. At its sole discretion, Betterment Securities may require additional documentation before permitting a Fiduciary on an existing Account or when opening a new Account. The Fiduciary agrees to indemnify and hold Betterment Securities and its affiliates harmless from and against any Losses arising out of or relating to any act, error, or omission of the Fiduciary. A custodian of a Uniform Transfers to Minors Act or Universal Gifts to Minors Act Account is responsible for all activity in the Account. Activity resulting from any instructions received from the minor, including placing or attempting to place orders, using or attempting to use a custodian's Password to the Account or taking delivery or attempting to take delivery of Assets of the Account, and all related Services, will be deemed to be the actions of the custodian. As the person responsible for the Account, the custodian will be held liable for any consequences of such activity, including any losses incurred by Betterment Securities. The custodian and minor agree to indemnify and hold Betterment Securities and its affiliates harmless from and against any losses arising out of or relating to any act, error or omission of the custodian or minor.

Fiduciary Accounts. Betterment Securities does not review any action or inaction of a Fiduciary with respect to an Account and is not responsible for determining whether a Fiduciary's ’s action or inaction satisfies the standard of care applicable to such Fiduciary's ’s handling of an Account. Betterment Securities is not responsible for determining the validity of a person or entity's status or capacity to serve as a Fiduciary. At its sole discretion, Betterment Securities may require additional documentation before permitting a Fiduciary on an existing Account or when opening a new Account. The Fiduciary agrees to indemnify and hold Betterment Securities and its affiliates harmless from and against any Losses arising out of or relating to any act, error, or omission of the Fiduciary. A custodian of a Uniform Transfers to Minors Act or Universal Gifts to Minors Act Account is responsible for all activity in the Account. Activity resulting from any instructions received from the minor, including placing or attempting to place orders, using or attempting to use a custodian's Password to the Account or taking delivery or attempting to take delivery of Assets of the Account, and all related Servicesservices, will be deemed to be the actions of the custodian. As the person responsible for the Account, the custodian will be held liable for any consequences of such activity, including any losses Losses incurred by Betterment SecuritiesBetterment. The custodian and minor agree to indemnify and hold Betterment Securities and its affiliates harmless from and against any losses Losses arising out of or relating to any act, error error, or omission of the custodian or minor.

Fiduciary Accounts. Betterment Securities does not review any action or inaction of a Fiduciary with respect to an Account and is not responsible for determining whether a Fiduciary's action or inaction satisfies the standard of care applicable to such Fiduciary's handling of an Account. Betterment Securities is not responsible for determining the validity of a person or entity's status or capacity to serve as a Fiduciary. At its sole discretion, Betterment Securities may require additional documentation before permitting a Fiduciary on an existing Account or when opening a new Account. The Fiduciary agrees to indemnify and hold Betterment Securities and its affiliates harmless from and against any Losses arising out of or relating to any act, error, or omission of the Fiduciary. A custodian of a Uniform Transfers to Minors Act or Universal Gifts to Minors Act Account is responsible for all activity in the Account. Activity resulting from any instructions received from the minor, including placing or attempting to place orders, using or attempting to use a custodian's Password to the Account or taking delivery or attempting to take delivery of Assets of the Account, and all related Services, will be deemed to be the actions of the custodian. As the person responsible for the Account, the custodian will be held liable for any consequences of such activity, including any losses incurred by Betterment Securities. The custodian and minor agree to indemnify and hold Betterment Securities and its affiliates harmless from and against any losses Losses arising out of or relating to any act, error or omission of the custodian or minor.

Fiduciary Accounts. Betterment Securities does not review any action or inaction of a Fiduciary with respect to an Account and is not responsible for determining whether a Fiduciary's ’s action or inaction satisfies the standard of care applicable to such Fiduciary's ’s handling of an Account. Betterment Securities is not responsible for determining the validity of a person or entity's status or capacity to serve as a Fiduciary. At its sole discretion, Betterment Securities may require additional documentation before permitting a Fiduciary on an existing Account or when opening a new Account. The Fiduciary agrees to indemnify and hold Betterment Securities and its affiliates harmless from and against any Losses arising out of or relating to any act, error, or omission of the Fiduciary. A custodian of a Uniform Transfers to Minors Act or Universal Gifts to Minors Act Account is responsible for all activity in the Account. Activity resulting from any instructions received from the minor, including placing or attempting to place orders, using or attempting to use a custodian's Password to the Account or taking delivery or attempting to take delivery of Assets of the Account, and all related Servicesservices, will be deemed to be the actions of the custodian. As the person responsible for the Account, the custodian will be held liable for any consequences of such activity, including any losses incurred by Betterment SecuritiesBetterment. The custodian and minor agree to indemnify and hold Betterment Securities and its affiliates harmless from and against any losses arising out of or relating to any act, error error, or omission of the custodian or minor.

Fiduciary Accounts. Betterment Securities does not review any action or inaction of a Fiduciary with respect to an Account and is not responsible for determining whether a Fiduciary's action or inaction satisfies the standard of care applicable to such Fiduciary's handling of an Account. Betterment Securities is not responsible for determining the validity of a person or entity's status or capacity to serve as a Fiduciary. At its sole discretion, Betterment Securities may require additional documentation before permitting a Fiduciary on an existing Account or when opening a new Account. The Fiduciary agrees to indemnify and hold Betterment Securities and its affiliates harmless from and against any Losses arising out of or relating to any act, error, or omission of the Fiduciary. A custodian of a Uniform Transfers to Minors Act or Universal Gifts to Minors Act Account is responsible for all activity in the Account. Activity resulting from any instructions received from the minor, including placing or attempting to place orders, using or attempting to use a custodian's Password to the Account or taking delivery or attempting to take delivery of Assets of the Account, and all related Servicesservices, will be deemed to be the actions of the custodian. As the person responsible for the Account, the custodian will be held liable for any consequences of such activity, including any losses incurred by Betterment SecuritiesBetterment. The custodian and minor agree to indemnify and hold Betterment Securities and its affiliates harmless from and against any losses arising out of or relating to any act, error error, or omission of the custodian or minor.