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

  • BECU will rely solely on the most recently signed POD designation retained in our system of record.

  • A Payable on Death (POD) designation is an instruction to the Credit Union that a designated account is an account payable to the owner or owners during their lifetimes, and upon the death of the last joint account owner, payable to any named and surviving POD beneficiary designated on your Account Card.

  • Any POD designation will not apply to Individual Retirement Accounts (IRAs) which will be governed by a separate beneficiary designation.

  • In addition, you agree to complete any documents or forms that we may require to process your request, otherwise BECU may rely on the P.O.D. designation currently on file.

  • A P.O.D. designation on an Account designated as joint With Right of Survivorship means that during your lifetime, the funds in an Account are payable to the Account Holders and upon the death of the last Account Holder, the funds are payable to any designated and surviving P.O.D. beneficiary named on the controlling account or other account documentation or records in our system.

  • Any POD designation shall not apply to Individual Retirement Accounts (IRAs).

  • P.O.D. beneficiarydesignations made on your Checking Account, Savings Account, Money Market Account, or Certificate of Deposit Account, do not apply to your IRAs or HSAs. Your IRAs and HSAs are governed by a separate beneficiary designation document and process.You agree to notify BECU in writing if: (a) any new Account(s) should not be included under an existing P.O.D. designation, or (b) you decide to change the beneficiary or beneficiaries for any or all Account(s).

  • One major benefit from this setup is that ORCA can compu- tationally handle large environments by distributing simulation costs across different instances.

  • A P.O.D. designation is your instruction regarding who or what should receive the funds in your account upon your death and our receipt of any required documentation, subject to the terms of this Agreement.

  • If you open a Single-Party Account, you can establish the account to include or not include a Payable on Death (P.O.D.) designation as follows: • Single-party Account w/out Payable on Death (POD) Designation - The party to the Account owns the Account.


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

  • Designation Agreement means a designation agreement entered into by a Lender (other than a Designated Bidder) and a Designated Bidder, and accepted by the Agent, in substantially the form of Exhibit D hereto.

  • Series B Certificate of Designation means the Certificate of Designation of Series B Cumulative Convertible Preferred Shares of the Company as in effect on the date hereof.

  • Series A Certificate of Designation means the Certificate of Designation of Series A Cumulative Convertible Preferred Shares of the Company as in effect on the date hereof.

  • Statewide popular election means a general election in

  • 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.