IRA Term Share Certificate Accounts. Sections 1, 2, 3, 5, 6, and 7 above apply equally to IRA Term Share Certificate Accounts. In addition, if your term Share Certificate Account is in an IRA, the following terms and conditions also apply:
a. An IRA Term Share Certificate Account is subject to the applicable terms and conditions set forth in this Agreement as well as the terms and conditions set forth in the Individual Retirement Account disclosure statement which by this reference is incorporated into this Agreement in its entirety. When you open your IRA Term Share Certificate Account, the Individual Retirement Account Application, Individual Retirement Account disclosure statement, and related disclosures will be provided to you in accordance with applicable law.
b. You may not pledge any of the funds on deposit in your IRA Term Share Certificate Account as security for any loan(s).
c. Certain federal and state penalties may apply to amounts withdrawn from IRAs. These are set forth in applicable federal and state laws and regulations, which are incorporated herein by this reference.
d. IRA Term Share Certificate Accounts are subject to an IRA Account Closure Fee if transferred to another custodian.
e. IRA Term Share Certificate Accounts are subject to limitations and/or penalties imposed by the Internal Revenue Service. Please refer to your Individual Retirement Account disclosure statement for additional information.
f. The law establishes procedures under which unclaimed property must be surrendered to the state. Generally, the funds in your IRA Term Share Certificate Account will be considered unclaimed if you have not had any activity or communication with us regarding your account over a period of years after the IRA Term Share Certificate Account becomes payable or distributable. Ask us if you want further information about the period of time or type of activity that will prevent your account from being considered unclaimed. If your funds are surrendered to the state, you may be able to reclaim them, but your claim must be filed with the state. Once your funds are surrendered to the state, we no longer have any liability or responsibility with respect to the funds.
