SELF-DIRECTED IRA PROVISIONS Clause Samples
SELF-DIRECTED IRA PROVISIONS. (a) At the direction of the Depositor (or the direction of the beneficiary upon the Depositor's death), the Custodian shall invest all contributions to the Custodial Account and earnings thereon in investments that are acceptable to the Custodian, and that are considered administratively feasible by the Custodian, which may include but are not limited to marketable securities traded on a recognized exchange or "over the counter" (excluding any securities issued by the Custodian), certificates of deposit, real estate, deeds of trust, mortgages, unsecured notes, limited partnerships, limited liability companies, private stock, other private placement offerings, and other investments to which the Custodian consents, in such amounts as are specifically selected and specified by the Depositor in orders to the Custodian in such form as may be acceptable to the Custodian, without any duty to diversify and without regard to whether such property is authorized by the laws of any jurisdiction as a trust investment. The Custodian shall be responsible for the execution of such orders and for maintaining adequate records thereof. However, if any such orders are not received as required, or, if received, are unclear in the opinion of the Custodian, or if there is insufficient Undirected Cash in the Custodial Account to comply with such orders, all or a portion of the contribution may be held uninvested without liability for loss of income or appreciation, and without liability for interest pending receipt of such orders or clarification, or the contribution may be returned. The Custodian shall have no duty other than to follow the written investment directions of the Depositor, and shall be under no duty to question said instructions and shall not be liable for any investment losses sustained by the Depositor under any circumstances.
(b) Depositor hereby acknowledges and agrees that Custodian will deposit all Undirected Cash in the Custodial Account into pooled deposit accounts at one or more FDIC or other United States government insured institutions or in United States government securities or in securities that are insured or guaranteed by the United States government pending further investment direction by Depositor. All income generated by Undirected Cash in Custodian’s pooled deposit accounts shall be retained by Custodian as fees, as described in paragraph 8.07(e) above. Depositor authorizes Custodian to transfer any Undirected Cash in the Custodial Account into ...
SELF-DIRECTED IRA PROVISIONS. 10.01 Investments, Transfers and Withdrawals of Assets in the Custodial Account:
(a) Depositor’s Account is “Self-Directed” What does “Self-Directed” mean? Self-Directed means Depositor, as the Holder of the Custodial Account, is solely responsible for the investment of all assets within Depositor’s Account by giving Custodian directives to take any action on behalf of the Custodial Account. That means Depositor is responsible for the selection, management, monitoring and retention of all investments held within Depositor’s Account. The investments Depositor selects may involve a high degree of risk, and the Custodian will provide no investment advice nor make any investigation or determination as to the prudence, viability, suitability, legality, or safety of the investments that Depositor selects. The assets selected for investment are solely Depositor’s responsibility. This requires that Depositor assures themselves of the financial soundness and appropriateness of the investment for Depositor’s Account and retirement objectives and Depositor should have all investments reviewed by a competent legal, tax, and/or financial advisor.
(b) The Depositor shall have exclusive responsibility for, and control over, any and all investment of the assets of the Depositor’s Custodial Account. All transactions shall be subject to any and all restrictions or limitations, direct or indirect, which are imposed by the Custodian’s charter, articles of incorporation, or bylaws; any and all applicable federal and state laws and regulations; the rules, regulations, customs and usages of any exchange, market or clearing house where the transaction is executed; the Custodian’s internal policies, standards and practices; and this Agreement. After the Depositor’s death, ▇▇▇▇▇▇▇▇▇’s beneficiary(ies) shall have the right to direct the investment of the Depositor’s Custodial Account assets, subject to the same conditions that applied to the Depositor in the Depositor’s lifetime under this Agreement. The Custodian shall be under no obligation to and will not exercise the voting rights and other shareholder rights with respect to investments in the Depositor’s account unless the Depositor provides timely written directions acceptable to the Custodian in accordance with the Custodian’s then current policies and procedures. The Depositor shall select the type of investment for the Depositor’s assets, provided, however, that the Depositor’s selection of investments shall be limited to t...
SELF-DIRECTED IRA PROVISIONS. Investments, Transfers and Withdrawals of Assets in the Custodial Account:
SELF-DIRECTED IRA PROVISIONS