POD designation definition

POD designation means the designation of: (i) a beneficiary in an account payable on request to one party during the party's lifetime and on the party's death to one or more beneficiaries, or to one or more parties during their lifetimes and on death of all of them to one or more beneficiaries, or (ii) a beneficiary in an account in the name of one or more parties as trustee for one or more beneficiaries if the relationship is established by the terms of the account and there is no subject of the trust other than the sums on deposit in the account, whether or not payment to the beneficiary is mentioned.
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POD designation means the designation of:
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POD designation means the designation of (i) a beneficiary in an
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Examples of POD designation in a sentence

  • If you make a P.O.D. designation and the P.O.D. beneficiaries survive you, then upon your death after the right of offset, proceeds of the account pass to the P.O.D. beneficiaries of the Account and the Account does not become part of your estate.

  • If you open a Single Party Account without a Payable on Death (POD) designation, then upon yourdeath, ownership of the account passes as part of your estate under your Will or by intestacy.

  • If you make a POD designation, then upon your death, ownership of the account passes to the POD beneficiaries of the account and the account does not pass as part of your estate.

  • The Credit Union makes no representation concerning the legal consequences or effectiveness of any P.O.D. designation, and you understand you should consult with your attorney if you have any questions regarding the validity, effectiveness, or fitness of any such P.O.D. designation for any purpose.


More Definitions of POD designation

POD designation means the designation of: (i) a beneficiary in an account payable
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Related to POD designation

  • Type designation means a combination of letters and numerals assigned by the Government to a major end item, assembly or subassembly, as appropriate, to provide a convenient means of differentiating between items having the same basic name and to indicate modifications and changes thereto.

  • Designation Notice means a notice from any Lender or an Affiliate of a Lender substantially in the form of Exhibit I.

  • Designation Agreement means, with respect to any Designated Subsidiary, an agreement in the form of Exhibit E hereto signed by such Designated Subsidiary and the Company.

  • Airline Designator Code means the two-characters or three letters, which identify particular air carriers.

  • Secured Party Designation Notice means a notice from any Lender or an Affiliate of a Lender substantially in the form of Exhibit H.

  • Series B Certificate of Designations has the meaning set forth in the recitals hereto.

  • Certificate of Designations means the Certificate of Designations or comparable instrument relating to the Designated Preferred Stock, of which these Standard Provisions form a part, as it may be amended from time to time.

  • Series A Certificate of Designations has the meaning set forth in the recitals hereto.

  • Designation has the meaning set forth in Section 4.16.

  • Designation Date as defined in Subsection 2.10(f).

  • Account Designation Letter means a letter from the Borrower to the Administrative Agent, duly completed and signed by an Authorized Officer of the Borrower and in form and substance reasonably satisfactory to the Administrative Agent, listing any one or more accounts to which the Borrower may from time to time request the Administrative Agent to forward the proceeds of any Loans made hereunder.

  • Restated Certificate means the Company’s Amended and Restated Certificate of Incorporation, as amended and/or restated from time to time.

  • Statewide popular election means a general election in

  • Certificate of Determination means the Certificate of Determination or comparable instrument relating to the Designated Preferred Stock, of which these Standard Provisions form a part, as it may be amended from time to time.

  • Nomination Notice means all information and documents that a Nominating Shareholder is required to submit to the Secretary of the Corporation pursuant to Section 3.11f.

  • Certificate of Designation means the Certificate of Designation to be filed prior to the Closing by the Company with the Secretary of State of Delaware, in the form of Exhibit A attached hereto.