RIGHT TO FREEZE ACCOUNT. We reserve the right of setoff against your account without prior notice to you to repay any debt or obligation owed to us by you or any co-owner of your account. This means that we have the right to apply part or all of the funds in your account for the satisfaction of any debt you or any co-owner of the account owe us. If your account is an individual account, our setoff right may be exercised to repay your debts, whether they are owed by you individually or jointly with others. All of the funds in a joint account may be used to repay the debts of any co-owner, whether they are owed individually by a co-owner, jointly with other co-owners, or jointly with other persons or entities having no interest in your account. If your account is a partnership account, each partner agrees that we may exercise our right of setoff against the partnership account to satisfy not only the obligations of the partnership, but also the individual obligations of any partner. Debts subject to our right of setoff include those owed by you from another joint account in which you are a co-owner even though the debt may not have been directly incurred by you, as well as debts for which you are only secondarily liable. Our right of setoff also applies when we cash a third party check for you over the counter which is returned to us unpaid for any reason, provided we return the unpaid check to you. We may exercise our right of setoff even if the withdrawal results in an early withdrawal penalty or the dishonor of subsequent checks. We will not be responsible for dishonoring items presented against your account when the exercise of our right of setoff results in insufficient funds in your account to cover the items. Our right of setoff may be exercised before or after the death of an account holder. Social Security, Supplemental Security Income, Veterans’ and other types of government benefits are protected by law from legal process and the claims of your creditors. To the extent that funds deposited in any deposit account subject to our right of setoff are entitled to any exemption from execution, levy, attachment, garnishment, seizure, setoff or other legal process (including, but not limited to, any Social Security, Supplemental Security Income, Veterans’ or other federal or state benefits), then you hereby knowingly, affirmatively and unequivocally waive such exemption and consent to our exercise of our right of setoff against such funds to the maximum extent permitted by law. W...
RIGHT TO FREEZE ACCOUNT. 23.1. The Customer agrees that the Bank shall be entitled to freeze any withdrawals and/or deposits into/from any of his account, without prior notice to the Customer, when:
