Payout of Benefits. 13.1. If the Depositor has selected a distribution option involving life contingencies, the Depositor may direct the Custodian to utilize the amount in the custodial account which would otherwise be available as a lump sum distribution to purchase an annuity from such insurance company as the Depositor may select to satisfy the requirements of Article IV of this Agreement.
Appears in 3 contracts
Samples: Traditional Ira Custodial Account Agreement, Roth Individual Retirement Custodial Account Agreement, Traditional Ira Custodial Agreement
Payout of Benefits. 13.112.1. If the Depositor has selected a distribution option involving life contingencies, the Depositor may direct the Custodian to utilize the amount in the custodial account which would otherwise be available as a lump sum distribution to purchase an annuity from such insurance company as the Depositor may select to satisfy the requirements of Article IV of this Agreement.
Appears in 2 contracts
Samples: Traditional Ira Custodial Agreement, Traditional Ira Custodial Account Agreement
