Common use of Xxxxxx of Attorney Clause in Contracts

Xxxxxx of Attorney. We are not required to recognize any power of attorney to act on an Account. We generally require that powers of attorney meet certain requirements under applicable State law before they will be recognized by us, including that the power be of a type that is recognized as “durable.” We may require the attorney-in-fact to present the original power of attorney before he or she may conduct any transaction involving the Account. We may require the attorney-in-fact to sign an affidavit regarding the attorney-in-fact’s right to act under the power. If we accept a power of attorney, we may continue to recognize the authority of the attorney-in-fact until we receive written notice of revocation or termination of the power of attorney and have had a reasonable time to act upon the notice. We reserve the right to restrict the types or amounts of transactions we will permit an attorney-in-fact to conduct on a case-by-case basis. A person acting under a power of attorney is not, by virtue of the power, an owner of the Account, and no funds in the account belong to the attorney-in-fact by reason of that capacity. The attorney-in-fact has no right of survivorship in the Account by virtue of that capacity.

Xxxxxx of Attorney. We are not required to recognize any power of attorney to act on an Account. We generally require that powers of attorney meet certain requirements under applicable State law before they will be recognized by us, including that the power be of a type that is recognized as “durable.” We may require the attorney-in-fact to present the original power of attorney before he or she may conduct any transaction involving the Account. We may require the attorney-in-fact to sign an affidavit regarding the attorney-in-fact’s fact right to act under the power. If we accept a power of attorney, we may continue to recognize the authority of the attorney-in-fact until we receive written notice of revocation or termination of the power of attorney and have had a reasonable time to act upon the notice. We reserve the right to restrict the types or amounts of transactions we will permit an attorney-in-fact to conduct on a case-by-case basis. A person acting under a power of attorney is not, by virtue of the power, an owner of the Account, and no funds in the account belong to the attorney-in-fact by reason of that capacity. The attorney-in-fact has no right of survivorship in the Account by virtue of that capacity.