Common use of Multiple Party Accounts Clause in Contracts

Multiple Party Accounts. If an Account is opened by two or more Parties, or if one or more Parties are added to a Single Party Account after the Account is opened, the Account will be a Multiple-Party Account. The Parties to the Account own the Account in equal undivided interests. Payment to any Party shall be valid and discharge the Credit Union from any and all liability for such payment. The Credit Union may accept instructions from any Party or act at the request of any Party with regard to any such Account without the consent of any other Party to the Account. Each Party authorizes all other Parties to the Account to act on his or her behalf with respect to the Account and to endorse any instrument payable to him or her for deposit to any such Account. Without the consent or joining of any other Party and without regard to the interest in the Account of any other Party, any Party to the Account may (i) make deposits to or withdraw funds from the Account, (ii) place stop payment orders with respect to any items drawn on the Account by any Party to the Account, or (iii) pledge all of the shares or deposits in an Account to secure any indebtedness owing to us. In the event that any Account may be accessed by means of an electronic fund transfer, including the use of a Freedom Debit Card issued in connection with the Account or any telephone or computer access program, each Owner grants to every other Owner actual authority to initiate any such transfer, to use any such Freedom Debit Card issued, or to use any personal identification number issued in connection with any such telephone or computer access program. Multiple-Party Account Owners may only remove themselves from an Account and may not remove any other Owners. We may require a new Application whenever the Ownership of an Account is modified. Any Multiple–Party Account Owner may close an Account at any time without notice to any other Owner. All Account Owners must provide their consent in such manner as we may require to add additional Owners to a Multiple-Party Account. Any joint Account Owner may add or remove Payable on Death payees on an Account upon notice to us in such form as we may require and without notice to any other Account Owner. If a primary member removes himself/herself from an Account, the remaining Owners may continue to maintain Accounts only if at least one of the Owners is a member or is within the Credit Union's field of membership. The Parties agree that the Credit Union may pay funds in any Multiple-Party Account to or on the order of any Party, regardless of whether any such Party is incapacitated or deceased. The Credit Union makes no representation concerning the legal consequences or effectiveness of the survivorship rights described in this Agreement, including any consequences arising out of the community property laws of any state, and you agree to hold us harmless from any loss or liability in connection with any survivorship designation. You understand that you should consult with a qualified attorney if you have any question regarding the validity, effectiveness, or fitness of any such survivorship designation for any purpose.

Multiple Party Accounts. If an Account is opened by two or more Parties, or if one or more Parties are added to a Single Single-Party Account after the Account is opened, the Account will be a Multiple-Party Account. The Parties to the Account own the Account in equal undivided interests. Payment to any Party shall be valid and discharge the Credit Union from any and all liability for such payment. The Credit Union may accept instructions from any Party or act at the request of any Party with regard to any such Account without the consent of any other Party to the Account. Each Party authorizes all other Parties to the Account to act on his or her behalf with respect to the Account and to endorse any instrument payable to him or her for deposit to any such Account. Without the consent or joining of any other Party and without regard to the interest in the Account of any other Party, any Party to the Account may (i) make deposits to or withdraw funds from the Account, (ii) place stop payment orders with respect to any items drawn on the Account by any Party to the Account, or (iii) pledge all of the shares or deposits in an Account to secure any indebtedness owing to us. In the event that any Account may be accessed by means of an electronic fund transfer, including the use of a Freedom Debit Card issued in connection with the Account or any telephone or computer access program, each Owner grants to every other Owner actual authority to initiate any such transfer, to use any such Freedom Debit Card issued, or to use any personal identification number issued in connection with any such telephone or computer access program. Multiple-Party Account Owners may only remove themselves from an Account and may not remove any other Owners. We may require a new Application whenever the Ownership of an Account is modified. Any Multiple–Party Account Owner may close an Account at any time without notice to any other Owner. All Account Owners must provide their consent in such manner as we may require to add additional Owners to a Multiple-Party Account. Any joint Account Owner may add or remove Payable on Death payees on an Account upon notice to us in such form as we may require and without notice to any other Account Owner. If a primary member removes himself/herself from an Account, the remaining Owners may continue to maintain Accounts only if at least one of the Owners is a member or is within the Credit Union's field of membership. The Parties agree that the Credit Union may pay funds in any Multiple-Party Account to or on the order of any Party, regardless of whether any such Party is incapacitated or deceased. The Credit Union makes no representation concerning the legal consequences or effectiveness of the survivorship rights described in this Agreement, including any consequences arising out of the community property laws of any state, and you agree to hold us harmless from any loss or liability in connection with any survivorship designation. You understand that you should consult with a qualified attorney if you have any question regarding the validity, effectiveness, or fitness of any such survivorship designation for any purpose.

Multiple Party Accounts. If an Account is opened by two or more Parties, or if one or more Parties are added to a Single Single-Party Account after the Account is opened, the Account will be a Multiple-Party Account. The Parties to the Account own the Account in equal undivided interests. Payment to any Party shall be valid and discharge the Credit Union from any and all liability for such payment. The Credit Union may accept instructions from any Party or act at the request of any Party with regard to any such Account without the consent of any other Party to the Account. Each Party authorizes all other Parties to the Account to act on his or her behalf with respect to the Account and to endorse any instrument payable to him or her for deposit to any such Account. Without the consent or joining of any other Party and without regard to the interest in the Account of any other Party, any Party to the Account may (i) make deposits to or withdraw funds from the Account, (ii) place stop payment orders with respect to any items drawn on the Account by any Party to the Account, or (iii) pledge all of the shares or deposits in an Account to secure any indebtedness owing to us. In the event that any Account may be accessed by means of an electronic fund transfer, including the use of a Freedom Debit Card issued in connection with the Account or any telephone or computer access program, each Owner grants to every other Owner actual authority to initiate any such transfer, to use any such Freedom Debit Card issued, or to use any personal identification number issued in connection with any such telephone or computer access program. Multiple-Party Account Owners may only remove themselves from an Account and may not remove any other Owners. We may require a new Application whenever the Ownership of an Account is modified. Any Multiple–Party Account Owner may close an Account at any time without notice to any other Owner. All Account Owners must provide their consent in such manner as we may require to add additional Owners to a Multiple-Party Account. Any joint Account Owner may add or remove Payable on Death payees on an Account upon notice to us in such form as we may require and without notice to any other Account Owner. If a primary member removes himself/herself from an Account, the remaining Owners may continue to maintain Accounts only if at least one of the Owners is a member or is within the Credit Union's field of membership. The Parties agree that the Credit Union may pay funds in any Multiple-Multiple- Party Account to or on the order of any Party, regardless of whether any such Party is incapacitated or deceased. The Credit Union makes no representation concerning the legal consequences or effectiveness of the survivorship rights described in this Agreement, including any consequences arising out of the community property laws of any state, and you agree to hold us harmless from any loss or liability in connection with any survivorship designation. You understand that you should consult with a qualified attorney if you have any question regarding the validity, effectiveness, or fitness of any such survivorship designation for any purpose.

Multiple Party Accounts. If an Account is opened by two or more PartiesOwners, or if one or more Parties Owners are added to a Single Party Account after the Account is opened, the Account will be a Multiple-Multiple Party Account. A Multiple Party Account and all subaccounts opened at any time under the same Account number, except for loan Accounts, shall be owned by the same Owners as designated in the Application establishing or modifying the Account. If a Party is removed from any Account, that Party will be removed from all subaccounts under the same Account number, except loan accounts if applicable. The Parties Owners to the a Multiple Party Account own the Account in equal undivided interestsproportion to their net contributions to the Account. Payment to any Party shall be valid and discharge the Credit Union from any and all liability for such payment. The Except as otherwise provided in this Agreement, the Credit Union may accept instructions from any Party or act at the request of any Party with regard to any such Account without the consent of any other Party to the Account. Each Party Owner authorizes all other Parties to the Account to act on his or her behalf with respect to the Account and to endorse any instrument payable to him or her for deposit to any such Account. Without the consent or joining joinder of any other Party Owner and without regard to the interest in the Account of any other PartyOwner, any Party to the Account may (i) make deposits to or withdraw funds from the Account, (ii) place stop payment orders with respect to any items drawn on the Account by any Party to the Account, or (iii) pledge all of the shares or deposits in an Account to secure any indebtedness owing to us, or (iv) designate an Account to provide overdraft protection for any other Account. In Only the event that any Primary Member in whose name a Multiple Party Account may be accessed by means of an electronic fund transferis opened, including the use of a Freedom Debit Card issued in connection with who designates other Parties to own the Account or jointly, may change Parties to the Account, add Parties to the Account, remove any telephone or computer access program, each Owner grants to every other Owner actual authority to initiate any such transfer, to use any such Freedom Debit Card issuedParties from the Account, or to use any personal identification number issued in connection with any such telephone or computer access program. Multiple-Party Account Owners may only remove themselves from an Account and may not remove any other Owners. We may require a new Application whenever the Ownership of an Account is modified. Any Multiple–Party Account Owner may close an Account at any time without notice to any other Owner. All Account Owners must provide their consent in such manner as we may require to add additional Owners to a Multiple-Party Account. Any joint Account Owner may add or remove delete Payable on Death payees on beneficiaries. Any such action by the Primary Member will apply to all subaccounts under the same Account number. At its option, the Credit Union may require that an Account upon notice be closed and a new Account opened in lieu of permitting the Primary Member to us in such form as we remove any Party from an Account, or the Credit Union may require and without notice the consent of any Party prior to acting upon any written notification or instruction by the Primary Member to remove that Party from an Xxxxxxx.Xx its option, the Credit Union also may require the consent of any other Owner before adding or removing a Payable on Death beneficiary. No other Party to a Multiple Party Account Owner. If may make any such change, addition, or deletion, except that any Party to a primary member removes Multiple Party Account may always remove himself/herself from an the Account, the remaining Owners may continue to maintain Accounts only if at least one of the Owners is a member or is within the Credit Union's field of membership. .The Parties agree that payee then living, and any payment made upon the Credit Union may pay funds in any Multiple-Party Account to or on the order request of any Partysurviving P.O.D. payee discharges us from any and all liability to that P.O.D. payee and any remaining P.O.D. payees or their heirs, regardless executors, and personal xxxxxxxxxxxxxxx.Xxx, your heirs, executors, and personal representatives agree to indemnify, defend, and hold us harmless from any claim asserted by any person or estate as a result of whether the payment of funds deposited in the designated Xxxxxxx.Xxx understand and agree that a P.O.D. designation shall be ineffective with respect to any such Party is incapacitated or deceased. The Credit Union makes Account held in an Individual Retirement Xxxxxxx.Xxx understand and agree, further, that a P.O.D. designation may be ineffective unless signed by all original Owners to the Account.We make no representation concerning the legal consequences or effectiveness of the survivorship rights described in this Agreement, including any consequences arising out of the community property laws effect of any stateP.O.D. designation, and you agree to hold us harmless from any loss or liability in connection with any survivorship designation. You understand that you should consult with a qualified your attorney if you have any question questions regarding the validity, effectiveness, validity or fitness effectiveness of any such survivorship P.O.D. designation for any purpose.

Multiple Party Accounts. If an Account is opened by two or more Parties, or if one or more Parties are added to a Single Party Account after the Account is opened, the Account will be a Multiple-Party Account. The Parties to the Account own the Account in equal undivided interests. Payment to any Party shall be valid and discharge the Credit Union from any and all liability for such payment. The Credit Union may accept instructions from any Party or act at the request of any Party with regard to any such Account without the consent of any other Party to the Account. Each Party authorizes all other Parties to the Account to act on his or her behalf with respect to the Account and to endorse any instrument payable to him or her for deposit to any such Account. Without the consent or joining of any other Party and without regard to the interest in the Account of any other Party, any Party to the Account may (i) make deposits to or withdraw funds from the Account, (ii) place stop payment orders with respect to any items drawn on the Account by any Party to the Account, or (iii) pledge all of the shares or deposits in an Account to secure any indebtedness owing to us. In the event that any Account may be accessed by means of an electronic fund transfer, including the use of a Freedom Debit Card issued in connection with the Account or any telephone or computer access program, each Owner grants to every other Owner actual authority to initiate any such transfer, to use any such Freedom Debit Card issued, or to use any personal identification number issued in connection with any such telephone or computer access program. Multiple-Party Account Owners may only remove themselves from an Account and may not remove any other Owners. We may require a new Application whenever the Ownership of an Account is modified. Any Multiple–Party Account Owner may close an Account at any time without notice to any other Owner. All Account Owners must provide their consent in such manner as we may require to add additional Owners to a Multiple-Party Account. Any joint Account Owner may add or remove Payable on Death payees on an Account upon notice to us in such form as we may require and without notice to any other Account Owner. If a primary member removes himself/herself from an Account, the remaining Owners may continue to maintain Accounts only if at least one of the Owners is a member or is within the Credit Union's field of membership. The Parties agree that the Credit Union may pay funds in any Multiple-Party Account to or on the order of any Party, regardless of whether any such Party is incapacitated or deceased. The Credit Union makes no representation concerning the legal consequences or effectiveness of the survivorship rights described in this Agreement, including any consequences arising out of the community property laws of any state, and you agree to hold us harmless from any loss or liability in connection with any survivorship designation. You understand that you should consult with a qualified attorney if you have any question regarding the validity, effectiveness, or fitness of any such survivorship designation for any purpose.