Common use of Formal Trust Accounts Clause in Contracts

Formal Trust Accounts. A Formal Trust Account is an account held by one or more trustees for the benefit of one or more beneficiaries according to a written trust agreement. Upon our request, the trustee(s) will supply to us a copy of any trust agreement covering the account. We act only as custodian of the trust funds and are under no obligation to act as a trustee or to inquire as to the powers or duties of the trustee(s).

Formal Trust Accounts. A Formal Trust Account is an account held owned by one or more trustees trustees, for the benefit of one or more beneficiaries beneficiaries, according to a formal written trust agreement. Upon our requestTo open a living trust, you must retain membership in your own right by retaining at least one share in your personal name for share insurance purposes. The separate Living Trust Account Agreement and Certification of Trust provides for the trustee(s) will supply applicable terms and conditions that are in addition to us a copy of any trust agreement covering the account. We act only as custodian of the trust funds and are under no obligation to act as a trustee or to inquire as to the powers or duties of the trustee(s)this Agreement.

Formal Trust Accounts. A “Formal Trust Account Account” is an account held by one or more trustees (each a fiduciary) for the benefit of one or more beneficiaries according to a written trust agreement. Upon our requestIf your Account is a Formal Trust Account, the trustee(s) will supply to us a copy of any trust agreement covering the account. We act only as custodian of the trust funds and are under no obligation to act as a trustee or to inquire as to the powers or duties of the trustee(s).following terms apply:

Formal Trust Accounts. A Formal Trust Account is an account Account held by one or more trustees for the benefit of one or more beneficiaries according to a written trust agreement. Upon our request, the trustee(s) will supply to us a copy of any trust agreement covering the accountAccount. We act only as custodian of the trust funds and are under no obligation to act as a trustee or to inquire as to the powers or duties of the trustee(s).