Joint Multiple Party Accounts. Any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each owner guarantees the signature of any other owner(s). Any owner may withdraw all funds, stop payment on items, transfer, or pledge to us all or any part of the shares without the consent of the other owner(s). We have no duty to notify any owner(s) about any transaction. We reserve the right to require written consent of all owners for any change to or termination of an account. However, subject to a policy adopted by the credit union's board of directors, a member, by written notice to us, may change any joint owner designated on the account or remove any such joint owner, change the form of the account, or stop or vary payment under the terms of the account. If we receive written notice of a dispute between owners or inconsistent instructions from them, we may suspend or terminate the account and require a court order or written consent from all owners to act.
Joint Multiple Party Accounts. A joint account on the date of the death vest in and belong to the surviving party as his or her separate property and estate. This means that when one (1) owner dies, ownership of the account passes to the surviving owner(s). If there are two (2) or more surviving owners, their respective ownerships during lifetime shall be in proportion to their previous net contributions to the account increased by an equal share for each survivor of any interest the decedent may have owned in the account immediately before his or her death. The rights of survivorship in the account continue until only one (1) owner remains surviving. For a joint multiple party account without rights of survivorship, when one (1) owner dies, the deceased owner's interest in the account passes as part of the deceased owner's estate under his or her will or by the applicable laws of intestacy. Payment of the account is subject to other provisions of this Agreement protecting the Credit Union for honoring transfer and withdrawal requests of an owner or by an owner's agent prior to notice of an owner's death, and to our statutory lien for the owner's obligations, and to any security interest or pledge granted by the owner.
Joint Multiple Party Accounts. If the accounts added to the service are jointly held or have multiple signers, you agree that access to the information and all transactions initiated by the use of your User ID and Password are authorized unless we have been notified to cancel the service. Each joint account holder should have their own unique user ID and Password. If your account has multiple parties who have the authority to withdraw funds, and you remove any of them from your account, you should notify the Internet Banking department at once to terminate that person’s authority from Internet Banking. You may contact us in person at any of our banking locations, by calling 0-000-0000000 or by U.S. Mail at P.O. Box 1158, Mt. Pleasant, TX. 75456. No Signature Required - When any payment or other on-line service generates items to be charged to your account, you agree that we may debit the designated account without requiring your signature on the item. Payment Due Date - refers to the date by which the Payee requires payment from the customer Passcode - means your password that is known solely by you and not by us or our service providers that you use to access the Internet Banking Service. Payee - A Payee is the person or entity to which you wish a bill payment to be directed or the person, company or organization from which you receive electronic bills as the case may be. Service Provider - includes any agent, licensor, independent contractor or subcontractor that this Financial Institution may involve in the provision of Internet banking, bill payments, and/or E-Bill services, Mobile Banking and Notify Me Alerts. Other service providers may be added from time to time. you and your - refer to the person(s) subscribing to or using the Internet Banking Service, owner of the Eligible Accounts, as well as any Authorized Users that such person allows, we, us, or our - As used within this Agreement, refer to Oakwood Bank. and any agent, independent contractor, Service Provider, sub-contractor, licensor, designee, or assignee that Oakwood Bank. may involve in the provision of the Internet Banking Service.
Joint Multiple Party Accounts. A joint account on the date of the death vest in and belong to the surviving party as his or her separate property and estate. This means that when one (1) owner dies, ownership of the account passes to the surviving owner(s). If there are two (2) or more surviving owners, their respective ownerships during lifetime shall be in proportion to their previous net contributions to the account increased by an equal share for each survivor of any interest the decedent may have owned in the account immediately before his or her death. The rights of survivorship in the account continue until only one (1) owner remains surviving. For a joint multiple party account without rights of survivorship, when one
Joint Multiple Party Accounts. A joint account is an account payable to any one or two or more parties, the owners. During life, the owners of a joint multiple party account own the account in proportion to their net contributions to the account. The owners of a joint multiple party account are presumed to own the account in equal undivided interests unless there is satisfactory proof of the parties’ net contributions to the account. The owners’ net contributions to a joint multiple party account are calculated in accordance to Sec. 125.104(b) of the Texas Finance Code and Sec. 436(6) of the Texas Probate Code, as amended from time to time.
