Common use of Reports Records and Accounting Clause in Contracts

Reports Records and Accounting. The Custodian shall maintain such records as may be reasonably necessary for the proper administration of the account. The Custodian shall render a report to each Depositor (or his or her beneficiaries), on the status of his or her account or accounts at least annually. The report shall show contributions (deposits) received, withdrawals made, dividend credits, other credits and/or charges, and the balance at the end of the report period. The report shall also furnish the Depositor such other information as the Custodian may possess and as may be necessary for the Depositor to comply with the reporting requirements of the Internal Revenue Code and any applicable regulations. The Custodian shall have no duty to furnish information about the account to any person except as expressly provided herein or as required by law. Any accounting, when approved by the Depositor, will be binding and conclusive as to the Depositor, and the Custodian will thereby be released and discharged from any liability or accountability to the Depositor with respect to matters set forth therein. The Depositor or beneficiary shall advise the Custodian within 60 days following receipt of the Custodian's report of any corrections to his or her account. If the Depositor or beneficiary fails to advise the Custodian of any corrections within the 60-day period, the Depositor or beneficiary shall be deemed to have approved the Custodian's report. The Custodian shall have the right to have its account settled by a court of competent jurisdiction.

Reports Records and Accounting. The Custodian shall maintain such records as may be reasonably necessary for the proper administration of the account. The Custodian shall render a report to each Depositor Participant (or his or her beneficiaries), on the status of his or her account or accounts at least annually. The report shall show contributions (deposits) received, withdrawals made, dividend credits, other credits and/or charges, and the balance at the end of the report period. The report shall also furnish the Depositor Participant such other information as the Custodian may possess and as may be necessary for the Depositor Participant to comply with the reporting requirements of the Internal Revenue Code and any applicable regulations. The Custodian shall have no duty to furnish information about the account to any person except as expressly provided herein or as required by law. Any accounting, when approved by the DepositorParticipant, will be binding and conclusive as to the DepositorParticipant, and the Custodian will thereby be released and discharged from any liability or accountability to the Depositor Participant with respect to matters set forth therein. The Depositor Participant or beneficiary shall advise the Custodian within 60 days following receipt of the Custodian's report of any corrections to his or her account. If the Depositor Participant or beneficiary fails to advise the Custodian of any corrections within the 60-day period, the Depositor Participant or beneficiary shall be deemed to have approved the Custodian's report. The Custodian shall have the right to have its account settled by a court of competent jurisdiction.

Reports Records and Accounting. The Custodian shall maintain such records as may be reasonably necessary for the proper administration of the accountAccount. The Custodian shall render a report to each Depositor (or his or his/her beneficiariesBeneficiaries), on the status of his his/ her Account or her account or accounts Accounts at least annually. The report shall show contributions (deposits) received, withdrawals made, dividend credits, other credits and/or charges, and the balance at the end of the report period. The report shall also furnish the Depositor such other information as the Custodian may possess and as may be necessary for the Depositor to comply with the reporting requirements of for the Internal Revenue Code and any applicable regulations. The Custodian shall have no duty to furnish information about the account Account to any person except as expressly provided herein or as required by law. Any accounting, accounting when approved by the Depositor, Depositor will be binding and conclusive as to the Depositor, and the Custodian will thereby be released and discharged from any liability or accountability to the Depositor with respect to matters set forth therein. The Depositor or beneficiary Beneficiary shall advise the Custodian within 60 days following receipt of the Custodian's report of any corrections to his or his/her accountAccount. If the Depositor or beneficiary Beneficiary fails to advise the Custodian of any corrections within the 60-day period, the Depositor or beneficiary Beneficiary shall be deemed to have approved the Custodian's report. The Custodian shall have the right to have its account settled by a court of competent jurisdiction.