Statutory Lien. I understand that you have a right to impress and enforce a statutory lien against my shares or dividends in the event of my failure to satisfy a financial obligation, and that you may enforce that right without further notice. You have a right to claim my shares and dividends equal to the amount of my outstanding financial obligation to the Credit Union, as that amount varies from time to time. I understand that you may enforce this lien only when I fail to satisfy an outstanding financial obligation due and payable to the Credit Union. If I am in default, you may debit funds in my account and apply them to the extent of any of my outstanding financial obligations, even if these obligations are not secured by shares.
Appears in 4 contracts
Samples: Share Account Agreement, Share Account Agreement, Share Account Agreement
