PENDING ALLOCATION ACCOUNT Clause Samples
A Pending Allocation Account clause establishes a temporary account to hold funds or assets that have not yet been assigned to their final destination or beneficiary. In practice, this clause is used when there is uncertainty or a delay in determining the proper allocation of certain amounts, such as investment proceeds or payments awaiting confirmation of entitlement. By providing a clear mechanism for holding and managing unallocated assets, the clause ensures that funds are securely maintained until allocation is resolved, thereby reducing the risk of misallocation and ensuring orderly administration.
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PENDING ALLOCATION ACCOUNT. Deposits received will be held in a Pending Allocation Account until applied, as described in Section C.3. below.
PENDING ALLOCATION ACCOUNT. An account established under the Variable Investment Division that invests unallocated contributions in shares of a money market mutual fund. Lincoln Life does not guarantee the principal amount or investment results.
PENDING ALLOCATION ACCOUNT. An account established under the Variable Investment Division that invests unallocated contributions in shares of a money market mutual fund. UNUM does not guarantee the principal amount or investment results.
PENDING ALLOCATION ACCOUNT. The money market account within the Variable Account used for Deposits received without allocation instructions.
PENDING ALLOCATION ACCOUNT. An account established under the Variable Investment Division that invests unallocated contributions in shares of a money market mutual fund. LL&A life does not guarantee the principal amount or investment results. Form No.: GAC 96-101 (NY) 6