Common use of Operational Accounts Clause in Contracts

Operational Accounts. SAMPLE In our capacity as custodian of the HSA, we may establish and maintain certain record-keeping sub accounts for the efficient administration and management of the HSA. The HSA may consist of a transactional Negotiable Order of Withdrawal (NOW) sub account and a savings sub account and we may periodically transfer funds between these two sub accounts. Your Bank statement will show a single balance representing the total funds in the two sub accounts. The same interest rate will apply to both sub accounts and interest will be paid on the total account balance regardless of how funds are distributed between the sub accounts.

Operational Accounts. SAMPLE In our capacity as custodian of the HSA, we may establish and maintain certain record-record- keeping sub accounts for the efficient administration and management of the HSA. The HSA may consist of a transactional Negotiable Order of Withdrawal (NOW) sub account and a savings sub account and we may periodically transfer funds between these two sub accounts. Your Bank statement will show a single balance representing the total funds in the two sub accounts. The same interest rate will apply to both sub accounts and interest will be paid on the total account balance regardless of how funds are distributed between the sub accounts.