Common use of Inactive Accounts and Unclaimed Property Clause in Contracts

Inactive Accounts and Unclaimed Property. a. Accounts Determined Inactive If the amount of funds in an account falls below the minimum bal- ance required by “Our Rates & Service Charges” of the MSA, and you are not using specific products or services, we may consider an account inactive. If an account you have with us is inactive, we may require a service charge (and may require a service charge to notify you of any inactivity). We require service charges on inactive accounts because of the cost incurred by the members in manag- ing accounts not being used by a member (who is also not using products or services that would otherwise justify this cost). We will discontinue the service charges once you meet the balance or product or service use requirements. We may also terminate an inactive account and deposit the funds in another account, mail a check to you at an address in our records, or if allowed remit the funds to a state as unclaimed property.

Inactive Accounts and Unclaimed Property. a. Accounts Determined Inactive If the amount of funds in an account falls below the minimum bal- ance required by “Our Rates & Service Charges” of the MSABSA, and you are not using specific products or services, we may consider an account inactive. If an account you have with us is inactive, we may require a service charge (and may require a service charge to notify you of any inactivity). We require service charges on inactive accounts because of the cost incurred by the members in manag- ing accounts not being used by a member (who is also not using products or services that would otherwise justify this cost). We will discontinue the service charges once you meet the balance or product or service use requirements. We may also terminate an inactive account and deposit the funds in another account, mail a check to you at an address in our records, or if allowed remit the funds to a state as unclaimed property.

Inactive Accounts and Unclaimed Property. a. Accounts Determined Inactive If the amount of funds in an account falls below the minimum bal- ance required by the “Our Rates & Service Charges” disclosure of the MSABSA, and you are not using specific products or services, we may consider an account inactive. If an account you have with us is inactive, we may require a service charge (and may require a service ser- vice charge to notify you of any inactivity). We require service charges on inactive accounts because of the cost incurred by the members in manag- ing managing accounts not being used by a member (who is also not using products or services that would otherwise justify this cost). We will discontinue the service charges once you meet the balance or product or service use requirements. We may also terminate an inactive account and deposit the funds in another accountac- count, mail a check to you at an address in our records, or if allowed al- lowed remit the funds to a state as unclaimed property.