Multiple-Party Account with Right of Survivorship. An Account will be a Multiple-Party Account with Right of Survivorship if you have so elected and indicated, or if any such authorization or card otherwise represents that the Account is held jointly with right of survivorship. All funds deposited into any such Account, including any earnings thereon, shall be owned by the Parties jointly with all others with right of survivorship. On the death of a Party, all sums in the Account on the date of the death vest in and belong to the surviving Party or Parties as their separate property and estate. The interest of the surviving Owner(s) is subject to any lien the Credit Union has for a deceased Party’s obligations and any security interest the deceased Party gave in the Account funds, regardless of whether the surviving Owner(s) consented to the security interest.
Appears in 6 contracts
Samples: Membership Agreement, Membership Agreement, Membership Agreement
