POLICY TITLE AND OWNERSHIP. 3.1 Title and ownership of the Policy shall reside in the Bank for its use and to provide for the Death Benefit for the Insured, all in accordance with this Agreement. The Bank alone may, to the extent of its interest, exercise the right to borrow or withdraw on the Policy Cash Surrender Value.
Appears in 4 contracts
Samples: Split Dollar Life Insurance Agreement (Century Bancorp Inc), Split Dollar Life Insurance Agreement (Century Bancorp Inc), Split Dollar Life Insurance Agreement (Century Bancorp Inc)
