Common use of Transfers of Assets Clause in Contracts

Transfers of Assets. The Custodian may accept a direct transfer of assets to the Account on behalf of the Participant from another custodial account or an annuity contract described in Section 403(b) of the Code to the extent permitted by the Code, the rulings thereunder, and any Employer sponsored employee benefit plan that covers the Participant or the Plan Document, if any. All transfers of assets shall be made in a manner acceptable to the Custodian and, in accordance with any rules and procedures approved by the Plan Administrator. Neither the Master Custodial Administration Agreement Administrator nor the Custodian shall be responsible for determining whether any transfer is proper.

Transfers of Assets. The Custodian may accept a direct transfer of assets to the Account on behalf of the Participant from another custodial account or an annuity contract described in Section 403(b457(b) of the Code to the extent permitted by the Code, the rulings thereunder, and any Employer sponsored employee benefit plan that covers the Participant or the Plan Document, if any. All transfers of assets shall be made in a manner acceptable to the Custodian and, in accordance with any rules and procedures approved by the Plan Administrator. Neither the Master Custodial Administration Agreement Administrator nor the Custodian shall be responsible for determining whether any transfer is proper.