INACTIVE & DORMANT ACCOUNTS. 22.1. The Company has established, implemented and maintains an Inactive and Dormant Account Policy that is as follows: When a client with any trading account(s) held with the Company under any of its brands has not:
INACTIVE & DORMANT ACCOUNTS. If your account falls below an applicable minimum balance or you have not made any transactions over a period specified in the Rate and Fee Schedule, we may classify your account as inactive or dormant. Unless specifically prohibited by applicable law, we may charge a service fee as set forth on the Rate and Fee Schedule for processing your inactive account. You authorize us to transfer funds from another account of yours to ensure you maintain a minimum of one par value in your regular 01 savings, and to cover any service fees, if applicable. To the extent allowed by law, we reserve the right to transfer the account funds to an account payable and to suspend any further account statements. If a deposit or withdrawal has not been made on the account and we have had no other sufficient contact with you within the period specified by state law, the account will be presumed to be abandoned. Funds in abandoned accounts will be reported and remitted to the state on your account profile in accordance with that state law for remitting abandoned property. Once funds have been turned over to the state, we have no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
INACTIVE & DORMANT ACCOUNTS i. If you do not make any deposits or withdrawals from your account (passive ACH debits and credits are not deemed transactions, examples include, but are not limited to Social Security payments, Veterans payments, established automated payments of third parties through ACH, etc.), or you fail to maintain contact with the Bank (e.g., return of mail to the last known address for the account, etc.) your account will be deemed dormant after eighteen (18) months of inactivity for checking accounts, savings / money market accounts and five (5) years from the 1st renewal for CDs, if no activity (meaning deposit, withdrawal, other accounts, etc.) on the account has taken place. Based on the foregoing, your account will be classified as dormant and will remain classified as dormant until you make a deposit or withdrawal or otherwise notify the Bank of your interest in the account. You may be required to sign a form to return your account to active status. After a specified period of time, if the customer has not responded to the Bank’s dormancy notifications, the accounts will be considered “abandoned” and will be escheated in accordance with the State of Florida Statutes (see “Escheatment” below). Xxxxxxx imposed for dormant accounts cannot be reversed. Refer to the Bank's current applicable Disclosures & Schedule of Fees for related charges. If the balance in your account reaches zero (0) after the assessment of dormant account fees or other service fees, the Bank may close your account.
INACTIVE & DORMANT ACCOUNTS. 46.1 The Client acknowledges and confirms that account(s), held with the Company, without any trading activity for a period of twelve (12) months, are considered to be inactive accounts.
INACTIVE & DORMANT ACCOUNTS. 22.1. Eurotrade SA has established, implemented and maintains an Inactive and Dormant Account Policy that is as follows: When a client with any trading account(s) held with Eurotrade SA under any of its brands has not:
INACTIVE & DORMANT ACCOUNTS. We are required by law to preserve an Account that is inactive. An Account is considered inactive if there has not been a debit or credit to the Account for more than one year by you or your agent (other than the Credit Union) and you have not communicated with us. If you have not made a withdrawal from, deposit to, or transfer involving your Account, and we have had no other sufficient communication with you within the period specified by state law, we may classify your Account as a Dormant Account. Funds in Dormant Accounts are reported and remitted in accordance with state law. Once the funds are turned over to the state, the Credit Union has no further liability to you for such funds. To collect such funds, you must apply to the appropriate agency.
INACTIVE & DORMANT ACCOUNTS. If your account falls below any applicable minimum balance or you have not made any trans- actions within the period of time specified in the Schedule, we may classify your account(s) as inactive. An account is gener- ally only considered dormant when an applicable State law requires such classification (i.e., dormant or abandoned). Although having no obligation to do so, we reserve the right to not classify a particular account as either inactive or dormant if any owner thereof has other active accounts or services with us. You may be charged fees as set forth in the Schedule for inactivity, which is generally the failure to transact any business on an account for a period of 90 days or more. If a deposit or withdrawal has not been made on the account and we have had no other sufficient contact with you within the period specified by state law, the account will be presumed to be abandoned. Funds in abandoned accounts will be reported and remitted in accordance with applicable state law. Once funds have been turned over to the state, we have no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency. The Credit Union may assess charges related to the maintenance of dormant accounts. After an account becomes dormant, the Credit union may cease payment of dividends and/ or interest. Any charges or interest shall not be refunded or credited to your account after any period of dormancy. ACCOUNT OWNERSHIP
INACTIVE & DORMANT ACCOUNTS. We encourage you to make sure your accounts remain active in order to have the full use of your accounts and avoid the possibility of having your account assets transferred to the state as “abandoned property”, as detailed in the section entitled Abandoned Property. An account is inactive if after two (2) years there has been no deposit to or withdrawal from the account.
INACTIVE & DORMANT ACCOUNTS. If your account falls below any applicable minimum balance or you have not made any Transactions within the period of time specified in the Fee Schedule, we may classify your account(s) as inactive or dormant. Although having no obligation to do so, we reserve the right to not classify a particular account as dormant if any owner thereof has other active accounts or services with us. Unless specifically prohibited by applicable law, we may charge a service fee set forth on the Fee Schedule for processing your dormant account. You authorize us to transfer funds from another account of yours to cover any applicable service fees. Unless prohibited by applicable law, we reserve the right to transfer your dormant account funds to a general Credit Union account and to suspend any further account statements. If a deposit or withdrawal has not been made on the account and we have had no other sufficient contact with you within the period specified by state law, the account will be presumed to be abandoned. Funds in abandoned accounts will be reported and remitted in accordance with applicable state law. Once funds have been turned over to the state, we have no further liability to you for such funds and if you choose to reclaim such funds, you must apply to the appropriate state agency.
INACTIVE & DORMANT ACCOUNTS. You agree to maintain your Account(s) active. Nevertheless, if no deposits have been made or no items have been drawn on an Account for a period of six (6) months, the Account shall be classified as an Inactive Account and shall be subject to Inactive Account fees in addition to any applicable Account fees set forth herein. If no deposits have been made or no items have been drawn on an Account for a period of one (1) year, the Account shall be classified as a Dormant Account and shall be subject to Dormant Account fees in addition to any applicable Account fees set forth herein. Dormant Account fees will be varied by DI from time to time at its sole discretion. DI reserves the right to withhold any payment withdrawal or transfer from a Dormant Account until DI, to its sole and complete satisfaction, is able to reestablish contact with you. Under applicable law, we must turn over to the appropriate State of Florida authorities any funds deposited in an Account, if you have not done at least one of the following for at least five (5) years: > Deposited or withdrawn funds when you presented your Passbook or Certificate to have us record your interest. > Signed our active Account confirmation form. > Written to us concerning the Account Prior to turning funds to the state authorities, DI will mail a notice to your last known address. If you do not respond by the date set forth for response in the notice, we will forward the funds in the Dormant Account to the appropriate state authority. You can retrieve the funds by contacting the appropriate state authority at the address set forth in the notice. A Time Deposit Account that has not reached maturity is not considered inactive, but if the Account renews automatically, it can become inactive in our records starting after the maturity date.
