INFORMAL AND FORMAL TRUST ACCOUNTS Sample Clauses

INFORMAL AND FORMAL TRUST ACCOUNTS. Any trust beneficiary designation shall not apply to XXX accounts which shall be covered by a separate beneficiary designation. The credit union shall at no time have any obligation to notify any beneficiary of the existence of any account or the besting of the beneficiary(ies) interest in any account except as otherwise provided by law. Credit union regulations with respect to share insurance of member share accounts are affected by the terms of Trust Agreement, the nature of the trust (revocable or irrevocable), and, in some cases, the family relationship of the beneficiary(ies). Please consult your legal advisor with respect to these issues. By opening the account, you are deemed to acknowledge the application of these regulations.
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Related to INFORMAL AND FORMAL TRUST ACCOUNTS

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