FORM OF ACCOUNT OWNERSHIP. The terms of this Part II generally apply to all types of deposit accounts subject to the Agreement (unless otherwise specified).
FORM OF ACCOUNT OWNERSHIP. When you open an account you may choose one of several types of ownership. The classification of your account as a personal or commercial and the form of ownership for your account are designated on the Signature Card when you open the account. In the absence of a Signature Card, our system of records shall be conclusive. Unless your Signature Card or account opening documents so designate, where two or more individuals are designated or appear on a Signature Card as owners of such account, then as between them, we will treat the owners as joint tenants with rights of survivorship. For any joint account or account with POD (as defined below) designation, where a joint owner or last owner has died, we reserve the right not to release funds in the account until all necessary legal documents and other requested information are delivered to us. You agree to notify us of the death of any joint owner and to reimburse us for any tax we may be required to pay by reason of our payment or release of funds in the account to you. You agree that if your account is identified as one offered only to individuals or unincorporated non-business associations, it shall not be used for a business purpose. At the sole discretion of the Bank, any such account may be closed and a commercial account required to be opened.
FORM OF ACCOUNT OWNERSHIP. Xxxxxx Xxxxx is instructed to maintain the account in the form of ownership and survivor- ship I have indicated on the Account Authorization Form. Such action may result in a di"erent distribution of the assets in the account upon the death of the owners than would be prescribed by the law of intestacy. My signature on the Account Authorization Form acknowledges my understanding of and intention to make such a designation. This selection is legally binding upon the survivorship rights of the owners of this account.
FORM OF ACCOUNT OWNERSHIP. When you open an account you may choose to own the account either (i) individually or (ii) jointly as joint tenants in the entirety with rights of survivorship. The form of ownership for your account are designated on the Signature Card when you open the account. In the absence of a Signature Card, our system of records shall be conclusive. Where two or more individuals are designated or appear on a Signature Card as owners of such account, then as between them, we will treat the owners as joint tenants with rights of survivorship. For any joint account where a joint owner or last owner has died, we reserve the right not to release funds in the account until all necessary legal documents and other requested information are delivered to us. You agree to notify us of the death of any joint owner and to reimburse us for any tax we may be required to pay by reason of our payment or release of funds in the account to you. You agree that if your account is identified as one offered only to individuals, it shall not be used for a business purpose. At the sole discretion of the Bank, any such account may be closed.
