Informal Trust or Nominee Account Agreement. If you are opening an informal trust or nominee Account in the name of a nominee, the informal trust or nominee Account and all Transactions are also governed by this Agreement as well as by the following terms: ● Your liability to the Firm under this Account shall be as the beneficial owner of the Account and not as a trustee. ● The Firm has no responsibility to observe the terms of any trust, whether written, verbal, implied, or constructive that may exist between the undersigned and the nominee. ● You agree to indemnify the Firm against loss, claim, damages, liability, and expense arising from instructions given by you, the trust or nominee including any legal costs if the nominee should make any legal claim against the Firm. ● You agree that the Firm shall receive instructions only from you or WSI to operate the Account including: ○ To receive instructions for the Account including the address for receipt of confirmations, statements and other communications; ○ To deposit any securities or monies; ○ To request payment or securities from the Account to be made or delivered to you, and to give a receipt for same; ○ To receive and acquiesce in the correctness of any and all notices of Transactions, statements of Account and other records and documents; ○ To settle, compromise, adjust, and give releases with respect to any and all claims, demands, disputes or controversies; and, ○ To receive requests and demands for payments or securities due, notices of intention to sell or purchase and other notices of demands. ● For the purposes of this section of this Agreement, this Agreement is binding on the Firm, its successors and assigns and on you and the nominee’s heirs, executors, administrators or legal representatives, in the event of your death, bankruptcy or mental incompetency. This Agreement shall continue to govern the Account in the event of death, bankruptcy, or mental incompetency of the nominee.
