Multiple-party account definition

Multiple-party account means an account in the names of 2 or more persons, 1 or more or all of whom may make withdrawals, or an account in the name of 1 or more parties as trustee for 1 or more beneficiaries even though no mention is made of a right of withdrawal by a beneficiary. Accounts established for deposit of funds of a partnership, joint venture or other association or accounts controlled by 2 or more persons as the duly authorized agents or trustees for a corporation, unincorporated association, charitable or civic organization or any trust, except trusts of deposits evidenced only by the form of the deposit, are excluded from the meaning of the term and from the provisions of this act. At least 1 party to a multiple-party account shall be a member of the credit union in which the account is established.

Multiple-party account means an account payable on request to one or more of two or more parties, whether or not a right of survivorship is mentioned.

Multiple-party account means an account payable on request to one or more of two or more parties, whether or not a right of survivorship is mentioned including, but not limited to, joint accounts or POD accounts.

More Definitions of Multiple-party account

Multiple-party account means a joint account, a convenience account, a P.O.D. account, or a trust account. The term does not include an account established for the deposit of funds of a partnership, joint venture, or other association for business purposes, or an account controlled by one or more persons as the authorized agent or trustee for a corporation, unincorporated association, charitable or civic organization, or a regular fiduciary or trust account in which the relationship is established other than by deposit agreement.

Multiple-party account means an Account opened as a Joint Account, Deposit Trust Account or Fiduciary Account. All obligations of Joint Accounts shall be joint and several, which means each Account Holder is responsible and liable for the acts and omissions of the other Account Holder on the Account.

Multiple-party account means a joint account, a P.O.D. account or a trust account. “Multiple-party account” does not include:

Multiple-party account means a joint account, a

Multiple-party account means any of the following types of account:

Multiple-party account means any of the following types of account: (i) a joint account, (ii) a

Multiple-party account means an Account opened as a Joint Account or Fiduciary Account. All obligations of Joint Accounts shall be joint and several, and each Customer is responsible and liable for the acts and omissions of the other Customer on the Account.