Uniform Transfer to Minors. If you have established an account as a custodian for a minor beneficiary under the applicable version of the Uniform Transfer to Minors Act or the Uniform Gifts to Minors Act for the location where you opened the account (the "Act"), your rights and duties are governed by the Act and by this Agreement where not inconsistent with the Act. You will not be allowed to pledge the account as collateral for any loan to you. Deposits in the account will be held by us for the exclusive right and benefit of the minor.
Uniform Transfer to Minors. If you have established the account as a custodian for a minor beneficiary under our state version of the Uniform Transfers to Minors Act or the Uniform Gifts to Minors Act, your rights and duties are governed by the Act. You will not be allowed to pledge the account as collateral for any loan to you. Deposits in the account will be held by us for the exclusive right and benefit of the minor. The custodian and/or any person opening the Account, in their individual capacity, agree to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorney's fees, we may suffer or incur arising out of any action or claim by any beneficiary or other custodian with respect to the authority or actions taken by the custodian in handling or dealing with the Account.
Uniform Transfer to Minors. If you have established an Account as a custodian for a minor beneficiary under the applicable version of the Uniform Transfer to Minors Act or the Uniform Gifts to Minors Act under applicable laws for the state location where you opened the Account (the "Act"), your rights and duties are governed by the Act and by this Agreement. You will not be allowed to pledge the Account as collateral for any loan to you. Deposits in the Account will be held by us for the exclusive right and benefit of the minor. Business Accounts. If the Account is not owned by a natural person and instead is owned by an entity (for example, a corporation, partnership, sole proprietorship, unincorporated association, etc.) then the Account holder must provide us with evidence to our satisfaction of the authority of the individual(s) who open the account to act on behalf of the Account holder as well as such information as may be required by applicable law, such as identification of the beneficial owners of any such Account.
Uniform Transfer to Minors. If you have established the
Uniform Transfer to Minors. If you have established the Account as a custodian for a minor beneficiary under the Texas version of the Uniform Transfers to Minors Act or the Uniform Gifts to Minors Act, your rights and duties are governed by that act. We will not allow you to pledge the Account as collateral for any loan to you. We will hold all deposits in the Account for the exclusive benefit of the minor. You agree to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorneys’ fees, we may suffer or incur arising out of any action or claim by any beneficiary or other custodian with respect to the authority or actions taken by you in handling or dealing with the Account.
Uniform Transfer to Minors. If you have established the account as a custodian for a minor beneficiary under our state version of the Uniform Transfers to Minors Act or the Uniform Gifts to Minors Act, your rights and duties are governed by the Act. You will not be allowed to pledge the account as collateral for any loan to you. Deposits in the account will be held by us for the exclusive right and benefit of the minor. The custodian and/or any person opening the Account, in their individual capacity, agree to indemnify and hold us harmless from and against any and all loss, costs, damage, liability, or exposure, including reasonable attorney's fees, we may suffer or incur arising out of any action or claim by any beneficiary or other custodian with respect to the authority or actions taken by the custodian in handling or dealing with the Account. Representative Payee Accounts. Subject to applicable law, a Representative Payee Account is a type of fiduciary account in which a representative xxxxx (appointed by the Social Security Administration) manages Social Security and Supplemental Security funds received on behalf of a beneficiary. Upon our request, the representative payee will provide sufficient documentation from the Social Security Administration indicating his or her appointment as a representative payee for the Account Holder. We may require additional documentation from the representative payee indicating his or her authority to act on behalf of the Account Holder. The representative payee does not have an ownership interest in funds in the Account. The representative payee does not have a right of survivorship in the Account on the death of the Account Holder. We act only as custodian of the funds and are under no obligation to act as a trustee or to inquire as to the powers or duties of the representative payee. The representative payee agrees to indemnify, and hold us harmless from and against any and all loss, cost, damage, liability, or exposure, including reasonable attorneys' fees, we may suffer or incur arising out of any action or claim by the beneficiary, a government entity or by any other party regarding the authority or actions taken by the representative payee in handling or dealing with the Account.
Uniform Transfer to Minors. If you have established the account as a custodian for a minor beneficiary under the Uniform Transfers to Minor Act or the Uniform Gifts to Minors Act of the state specified under the Governing Law section, your rights and duties are governed by such Act. You will not be allowed to pledge the Account as collateral for any loan to you. Deposits in the Account will be held by us for the exclusive right and benefit of the minor beneficiary. The custodian and/or any person opening the Account, in their individual capacity, agree to defend, indemnify and hold us harmless from and against any and all Claims and Costs we may suffer or incur arising out of any Claim by any beneficiary or other custodian with respect to the authority or actions taken by the custodian in handling or dealing with the Account.
