Stop Payment Order Request. Any owner may request a stop payment order on any check or draft drawn on the owner’s account. You will be charged for each stop payment order given. Refer to the Fee Schedule for current fees. The stop payment will be effective if the Credit Union receives the order in time for the Credit Union to act upon the order, and you state the member/account number, date and check number and its exact amount. This exact information is necessary for the Credit Union to identify the check or draft. If we receive incorrect or incomplete information, we will not be responsible for failing to stop payment on the check or draft. If we re-credit your account after paying a check or draft over a valid and timely stop payment order, you agree to sign an unauthorized transfer statement describing the dispute with the payee, to transfer all of your rights against the payee or other holders of the check or draft to us, and to assist us in legal action taken against the person. Note: We have no obligation to accept any order to stop payment on an official check guaranteed by us.
Appears in 7 contracts
Samples: Membership Account Agreement, Membership Account Agreement, Membership Account Agreement
