Joint Accounts with Right of Survivorship Sample Clauses

Joint Accounts with Right of Survivorship. If this is an account in the names of two or more individuals, it will be a joint account with right of survivorship as defined in Section 36a-290 of the Connecticut General Statutes or the successor to that statute. This means that each of you is making this Agreement with each other and with us. Each of you agrees that all amounts deposited by any of you, as well as any interest earned or bonus payments earned, can be paid to any one or more of you while you are all alive. After the death of any one or more of you, we can pay any money in the account to any one or more of you who is then alive. Each of you gives to all of the others authority to deposit to the account any check payable to any one or more of you. For certain checks, such as a check payable by the government, we may require all persons to whom the check is payable to endorse the check for deposit. We do not allow an account held in the names of individuals to require more than one signature for withdrawals from the account. If we honor a check which was signed by any one or more of you and this causes an overdraft, each of you is liable for the over- draft, whether or not you signed the check or benefited from its proceeds. • Limitation on Number of Owners. We have the right to limit the number of owners on any account.
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Joint Accounts with Right of Survivorship. If you open an account that is joint with right of survivorship, your rights and the rights of the other person(s) whose name(s) appear on the account are set forth in Section 36a-290 et. seq. of the Connecticut General Statutes. Briefly, these laws provide that the other person(s) named on the account may withdraw the entire balance in the account including deposits you have made and, upon your death, the funds in the account are held for the other person(s). For certain checks, such as a check payable by the government, the Bank may require all persons to whom the check is payable to endorse the check for deposit. The other person named on the account may also stop payment on a check and create an overdraft. Each joint account owner authorizes the bank to exercise setoff and enforce its security interest in the entire joint account, even though only one of the joint owners is the defaulting debtor and irrespective of who signed the check creating the overdraft. Each person named on a joint account can pledge or lien the entire account. The Bank will not accept an account for individuals that require the signatures of two or more persons for a withdrawal. The bank has the right to limit the number of owners on any account.
Sample 1Sample 2Sample 3See All (6)
Joint Accounts with Right of Survivorship. (Not as Tenants in Common). If your account is in two or more names, it is a joint account. Unless indicated otherwise, joint accounts are with the right of survivorship. This means that upon the death of any joint owner, the account balance is owned by the surviving owner(s), subject to our right to reimbursement from the account and our right of setoff and security interest in the account, and the estate of the deceased joint owner has no interest in the account. You understand and agree that we may honor checks drawn by and withdrawal requests from the surviving account owner(s).
Sample 1Sample 2Sample 3
Joint Accounts with Right of Survivorship. If this is an account in the names of two or more individuals, unless we specifically agree otherwise in writing it will be a joint account with right of survivorship as defined in Section 36a-290 of the Connecticut General Statutes or the successor to that statute. This means that each of you is making this agreement with each other and with us. Each of you agrees that all amounts deposited by any of you, as well as any interest earned or bonus payments earned, can be paid to any one or more of you while you are all alive. After the death of any one or more of you, we can pay any money in the account to any one of you who is then alive. Each of you gives to any of the others authority to deposit to the account any check payable to any or all of you. For certain checks, such asa check issued by the government, we may require all persons to whom the check is payable to endorse the check for deposit. We will not accept an account for individuals that requires the signature of two or more individuals for withdrawals.
Sample 1
Joint Accounts with Right of Survivorship. Opening Your Account The following rules apply to all joint accounts: Each joint owner has complete control over all of the funds in the account. As such, we may pay out money from the account upon the request of any joint owner (or a joint owner’s authorized representative), regardless of their contributions to the account, and whether any other joint owner is incapacitated or deceased. As such, we may release all or any part of the balance of the account to honor checks, withdrawals, orders, or requests signed by any joint owner of the account. In addition, any joint owner can enroll in services we offer with regard to the account such as Online Banking. All deposits made to a joint account are the property of all the owners of the account. Each owner of a joint account agrees that we may credit to the joint account any check or other item which is payable to at least one (1) of you, even if less than all of you endorse the check or other item. For certain checks, such as checks issued by the government, we may require all payees to endorse the check for deposit. Note: Terms Applicable to North Carolina Joint Accounts Note: Tenants by the Entireties Account
Sample 1
Joint Accounts with Right of Survivorship. (Not as Tenants in Common). If your account is in two or more names (without a fiduciary, beneficiary, or other designation as discussed below), it is a joint account. All joint accounts that you have with us are with the right of survivorship, and not as tenants in common. This means that each of you as a joint owner of the account is considered jointly and severally liable to us for the entire amount of any obligation or liability to us regarding the account, or for any Losses regarding the account. It also means that upon the death of any joint owner, the account balance is owned by the surviving owner(s), subject to our right to reimbursement from the account and our right of setoff and security interest in the account, and the estate of the deceased joint owner has no interest in the account. If more than one joint owner survives, they will own the account as joint tenants with right of survivorship, and not as tenants in common.
Sample 1

Related to Joint Accounts with Right of Survivorship

  • Rights of Survivorship If your account is a joint account, the account is owned as a joint account with rights of survivorship. Upon the death of one of the joint account owners, that person’s interest will become the property of the surviving joint account owners.

  • NO RIGHT OF SURVIVORSHIP NON-TRANSFERABILITY You acknowledge, understand and agree that your account is non-transferable and any rights to your ID and/or contents within your account shall terminate upon your death. Upon receipt of a copy of a death certificate, your account may be terminated and all contents therein permanently deleted.

  • Survivorship The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations.

  • RIGHT OF ALLOTTEE TO USE COMMON AREAS AND FACILITIES SUBJECT TO PAYMENT OF TOTAL MAINTENANCE CHARGES

  • RIGHT OF ALLOTTEE TO USE COMMON AREAS AND FACILITIES SUBJECT TO PAYMENT OF TOTAL MAINTENANCE CHARGES The Allottee hereby agrees to purchase the [Apartment/Plot] on the specific understanding that is/her right to the use of Common Areas shall be subject to timely payment of total maintenance charges, as determined and thereafter billed by the maintenance agency appointed or the association of allottees (or the maintenance agency appointed by it) and performance by the Allottee of all his/her obligations in respect of the terms and conditions specified by the maintenance agency or the association of allottees from time to time.

  • Can I Roll Over or Transfer Amounts from Other IRAs or Employer Plans If properly executed, you are allowed to roll over a distribution from one Traditional IRA to another without tax penalty. Rollovers between Traditional IRAs may be made once every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, Xxxx, SEP, and SIMPLE IRAs owned. Under certain conditions, you may roll over (tax-free) all or a portion of a distribution received from a qualified plan or tax-sheltered annuity in which you participate or in which your deceased spouse participated. In addition, you may also make a rollover contribution to your Traditional IRA from a qualified deferred compensation arrangement. Amounts from a Xxxx XXX may not be rolled over into a Traditional IRA. If you have a 401(k), Xxxx 401(k) or Xxxx 403(b) and you wish to rollover the assets into an IRA you must roll any designated Xxxx assets, or after tax assets, to a Xxxx XXX and roll the remaining plan assets to a Traditional IRA. In the event of your death, the designated beneficiary of your 401(k) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary IRA account. In general, strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing rollovers. Most distributions from qualified retirement plans will be subject to a 20% withholding requirement. The 20% withholding can be avoided by electing a “direct rollover” of the distribution to a Traditional IRA or to certain other types of retirement plans. You should receive more information regarding these withholding rules and whether your distribution can be transferred to a Traditional IRA from the plan administrator prior to receiving your distribution.

  • Third Party Beneficiary Rights The parties do not intend to create in any other individual or entity the status of third party beneficiary and this Contract shall not be construed so as to create such status. The rights, duties and obligations contained in this Contract shall operate only between the parties to this Contract, and shall inure solely to the benefit of the parties to this Contract. The provisions of this Contract are intended only to assist the parties in determining and performing their obligations under this Contract. The parties to this Contract intend and expressly agree that only parties signatory to this Contract shall have any legal or equitable right to seek to enforce this Contract, to seek any remedy arising out of a party's performance or failure to perform any term or condition of this contract, or to bring an action for the breach of this Contract.

  • Qualified Joint and Survivor Annuity Unless an optional form of benefit is selected pursuant to a qualified election within the 90-day period ending on the annuity starting date, a married Participant's Vested account balance will be paid in the form of a qualified joint and survivor annuity and an unmarried Participant's Vested account balance will be paid in the form of a life annuity. The Participant may elect to have such annuity distributed upon attainment of the earliest retirement age under the Plan.

  • Exclusive Benefits of Parties This Deposit Agreement is for the exclusive benefit of the parties hereto, and their respective successors hereunder, and shall not be deemed to give any legal or equitable right, remedy or claim to any other person whatsoever.

  • Entire Agreement; No Third Party Beneficiaries; Rights of Ownership This Agreement (including the documents and the instruments referred to herein) constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof, and is not intended to confer upon any person other than the parties hereto any rights or remedies hereunder.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!