Single Party Accounts. A single party account is an account owned by one member (individual, corporation, partnership, trust or other organization) qualified for credit union membership. If the account owner dies, the interest passes, subject to applicable law, to the decedent’s estate or Payable on Death (POD) beneficiary /or trust beneficiary, subject to other provisions of this Agreement governing our protection for honoring transfer and withdrawal request of an owner of owner’s agent prior to notice of an owner’s death.
Single Party Accounts. An account with only one owner is defined as a single party account. An owner is an individual who is eligible for membership. If the account owner dies, the ownership of the account passes to the decedent’s estate, Payable on Death (POD) beneficiary/payee, or trust beneficiary, subject to other terms of this Membership and Account Agreement and applicable law relating to the processing of payments, transfers, and withdrawal requests of an owner, or owner’s agent, before we are notified of an owner’s death.
Single Party Accounts. Under this type of Account ownership, the sole Party to the Account owns the Account. If you open a Single- Party Account, upon your death and in the absence of any Payable on Death (P.O.D.) designation, ownership of the Account passes as part of your estate under your Will or by the law governing the estate of a person who dies without a valid Will.
Single Party Accounts. An account payable to one (1) party, the owner, (which includes natural persons, corporations, partnerships, trusts established other than by the form of the account, unincorporated associations, and other organizations) qualified for credit union membership. If the owner dies, the account is payable to Payable on Death (POD) beneficiary(ies), if so named, or as a part of the owner's estate under his or her will or by the applicable laws of intestacy. Payment of the account is subject to other provisions of this Agreement protecting the Credit Union for honoring transfer and withdrawal requests by the owner or by the owner's agent prior to notice of the owner's death, and to our statutory lien for the owner's obligations, and to any security interest or pledge granted by the owner.
Single Party Accounts. An account with only one owner is defined as a single party account. An owner is an individual
Single Party Accounts. If the account is designated as a Single-Party account, the account will be opened and maintained in the name of the one Party, who is the sole signatory thereof. The Party to the account owns the account.
Single Party Accounts. A single party Account is an Account owned by one member qualified for Credit Union membership.
Single Party Accounts. An account with only one owner is defined as a single-party account. If the account owner dies, the remaining funds in the account will be transferred subject to other terms of this agreement and applicable law. We may process payments, transfers, and withdrawal requests of an owner, or owner’s agent, until we are notified of an owner’s death. For the purpose of this agreement, remaining funds are defined as funds left within the account after enforcement of all setoffs, security interests and pledges, and satisfaction of other financial obligations owed under the account.
Single Party Accounts. If this is a single party account, the interest of a deceased owner will pass, subject to applicable law, to the decedent’s estate or payable on death (POD) payee/beneficiary.
Single Party Accounts. A single-party account is an account owned by one individual (or a trust company, in the case of a UTTMA, defined in Section
