Individual Account with Payable-on-Death Designation Sample Clauses

Individual Account with Payable-on-Death Designation. Upon your death, the POD beneficiary will be entitled to the funds in the account (subject to the terms of this Agreement) upon proof of your death and the POD beneficiary’s identification. Unless otherwise indicated on your Signature Card, if you designate more than one POD beneficiary on the account, each will be entitled to his or her (or its) equal share of the funds in the account, which will be determined by dividing the amount of the funds in the account by the number of POD beneficiaries designated on the account, and will own those funds without right of survivorship.
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Individual Account with Payable-on-Death Designation. Upon your death, the POD beneficiary will be entitled to the funds in the account (subject to the terms of this Agreement) upon proof of your death and the POD beneficiary’s identification. If you designate more than one POD beneficiary on the account, each will be entitled to his or her (or its) equal share of the funds in the account, which will be determined by dividing the amount of the funds in the account by the number of POD beneficiaries designated on the account, and will own those funds without right of survivorship. • Joint Account Without Payable-on-Death Designation. When one owner dies, his or her interest in the account and the funds in the account are owned by the surviving owner or owners
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Individual Account with Payable-on-Death Designation. Upon the death of the owner, ownership passes to the designated POD beneficiary(ies) and is not part of the deceased owner’s estate.
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Individual Account with Payable-on-Death Designation. Upon the death of the owner, ownership passes to the designated POD “beneficiary(ies)”.
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Individual Account with Payable-on-Death Designation. Upon your death,thePODbeneficiary will be entitled to thefunds in the account (subjecttotheterms of this Agreement)upon proof ofyourdeathandthe PODbeneficiary’sidentification. IfyoudesignatemorethanonePOD beneficiary ontheaccount,eachwill be entitledto his or her (orits)equal share of the funds in the account, which will be determined by dividing the amount of thefunds in theaccount by thenumberof PODbeneficiaries designated on the account, and will own those funds without right of survivorship.
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Individual Account with Payable-on-Death Designation. Upon your death, the POD beneficiary will be entitled to the funds in the account (subject to the terms of this Membership Agreement) upon proof of your death and the POD beneficiary’s identification. If you designate more than one POD beneficiary on the account, each will be entitled to his or her (or its) equal share of the funds in the account, which will be determined by dividing the amount of the funds in the account by the number of POD beneficiaries designated on the account, and each will own those funds without right of survivorship. You understand that it is your responsibility (and not ours) to inform your legal representative(s) about your account(s) with us.
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Related to Individual Account with Payable-on-Death Designation

  • Designation of Beneficiaries The Executive may designate any person to receive any benefits payable under the Agreement upon the Executive’s death, and the designation may be changed from time to time by the Executive by filing a new designation. Each designation will revoke all prior designations by the Executive, shall be in the form prescribed by the Administrator and shall be effective only when filed in writing with the Administrator during the Executive’s lifetime. If the Executive names someone other than the Executive’s spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Administrator, executed by the Executive’s spouse and returned to the Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved.

  • Designation of Beneficiary The depositor may designate a beneficiary or beneficiaries to receive benefits from the custodial account in the event of the depositor’s death. In the event the depositor has not designated a beneficiary, or if all beneficiaries shall predecease the depositor, the following persons shall take in the order named: a. The spouse of the depositor; b. If the spouse shall predecease the depositor or if the depositor does not have a spouse, then to the depositor’s estate.

  • CHANGE OF BENEFICIARY 18.1 The policyholder has the authority to appoint another beneficiary during the life of the insured person.. However, if the beneficiary has declared, with the written consent of the policyholder, that he accepts the benefit of the contract, the policyholder can exercise his rights under the contract only with the cooperation of the beneficiary, who has so accepted. The change will take effect from the moment that the insurer has noted this on the policy.

  • Effect of Death, Resignation, etc. of a Trustee The death, resignation, retirement, removal, incapacity, or inability of the Trustees, or any one of them, shall not operate to terminate the Trust or any Series or to revoke any existing trust or agency created pursuant to the terms of this Trust Instrument.

  • Individual Account An individual account is an account owned by you alone, which you as the account owner use during your lifetime.