Common use of Ownership of Accounts Clause in Contracts

Ownership of Accounts. Signature Card The signature card you sign or your online acknowledgment when you open the account shows the type of account and the form of its ownership. We may rely on the signature card or online acknowl- edgement to determine who has access to the funds in the account and how the account is to be administered by us. Individual Accounts By opening an account that is designated as an individual account on the signature card or your online acknowledgment, you are con- sidered by us to be the sole owner of the account. No other person can use the account unless you have granted that person a power of attorney as described below; however, that person would still have no ownership interest in the account. Joint Accounts