Common use of Resignation of Custodian Clause in Contracts

Resignation of Custodian. We can resign as Custodian at any time effective 30 days after we mail written notice of our resignation to you. Upon receipt of that notice, you must arrange to transfer your Account assets to another financial organization. If you do not complete a transfer of your Account assets within 30 days from the date we mail the notice to you, we have the right to transfer your Account assets to a successor HSA custodian or trustee that we choose in our sole discretion, or we may pay your Account assets to you in a single sum. We shall not be liable for any actions or failures to act on the part of any successor custodian or trustee, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If for any reason we are unable to liquidate a Non-Deposit Vehicle, then your funds invested in that Non-Deposit Vehicle will remain invested in it, and it will be your or your representative’s responsibility to dispose or otherwise take action with respect to them.

Resignation of Custodian. We can resign as Custodian at any time effective 30 days after we mail written notice of our resignation to you. Upon receipt of that notice, you must arrange to transfer your Account assets to another financial organization. If you do not complete a transfer of your Account assets within 30 days from the date we mail the notice to you, we have the right to transfer your Account assets to a successor HSA MSA custodian or trustee that we choose in our sole discretion, or we may pay your Account assets to you in a single sum. We shall not be liable for any actions or failures to act on the part of any successor custodian or trustee, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If for any reason we are unable to liquidate a Non-Non- Deposit Vehicle, then your funds invested in that Non-Deposit Vehicle will remain invested in it, and it will be your or your representative’s responsibility to dispose or otherwise take action with respect to them.