Common use of Stop Payment Rights Clause in Contracts

Stop Payment Rights. If you have set up a pre-authorized payment out of your account(s) for money you owe others, you may stop payment of existing preauthorized transfers from your account(s). Contact us in time for us to receive your request three (3) business days or more before the payment is scheduled to be made. If you give the Credit Union incorrect or incomplete information, we will not be responsible for failing to stop payment on the item. If there are joint account owners, any of those persons may stop payment or close the account. A stop payment order shall remain in effect until notice is received from the account holder to revoke the stop payment order.

Appears in 5 contracts

Samples: Membership Agreement, Membership Agreement, Membership Agreement

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