Successor Account Owner definition

Successor Account Owner means the individual, at least 18 years of age, corporation or other entity authorized to become the Account Owner and assume the responsibilities and duties of the Account Owner.
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Successor Account Owner means the person named in the Contract by the Account Owner to exercise the rights of the Account Owner under the Contract if the Account Owner dies or becomes Legally Incompetent. The Successor Account Owner may be the Beneficiary. The Account Owner may change the designation at any time in writing to the Board. If the Account Owner dies or becomes Legally Incompetent, the Successor Account Owner shall automatically become the Account Owner for purposes of these Rules and the Contract, including, but not limited to constituting the Refund Recipient. In the event the Account Owner dies or becomes Legally Incompetent and no surviving Successor Account Owner exists, the surviving Successor Account Owner is Legally Incompetent or declines to serve, or the Account Owner did not designate a Successor Account Owner, the Beneficiary shall automatically become the Account Owner for purposes of these Rules and the Contract, including, but not limited to constituting the Refund Recipient. If the Beneficiary is a minor, the following shall apply:
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Successor Account Owner. The person named in the Enrollment Form or otherwise in writing to Scholar’s Edge by the Account Owner, who may exercise the rights of the Account Owner under Scholar’s Edge if the Account Owner dies or is declared legally incompetent. The Successor Account Owner may be the Beneficiary if the Beneficiary is 18 years or older. Supplement: An addendum to the Plan Description and Participation Agreement, issued from time to time.
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Examples of Successor Account Owner in a sentence

  • As the Account Owner, you may designate a Successor Account Owner to take control of the Account in the event of your death or legal incapacity.)• A Successor Account Owner cannot be named for UGMA/UTMA Accounts.• If a Successor Account Owner is not designated on an Individual Account, the Beneficiary becomes the Account Owner upon the death or legal incapacity of the Account Owner.

  • The Successor Account Owner has no rights in regard to the Account and cannot direct any changes, transfers, or cancellations, except in the event of the death or disability of the Account Owner.• You may revoke or change the Successor Account Owner at any time.

  • Optional)• The Successor Account Owner will take control of the Account in the event of the Account Owner’s death or legal incompetence.• You may revoke or change the Successor Account Owner at any time.

  • The Successor Account Owner will become the Account Owner upon death of the original Account Owner.• You may revoke or change the Successor Account Owner at any time.

  • Optional, but recommended).• If you choose to complete Section 5, you are required to provide full legal name and date of birth.• The Successor Account Owner will take control of the Account in the event of the Account Owner’s death or disability.

  • Not permitted for UGMA/UTMA Accounts)• You may name a Successor Account Owner to take control of the Account in the event that the Account Owner dies or becomes legally incompetent.

  • Recommended)Note: A Successor Account Owner cannot be added to an UTMA/UGMA account.• As the Account Owner, you may designate a Successor Account Owner to take control of the Account in the event of your death.• The Successor Account Owner must be eligible to become an Account Owner in the event of death of the current Account Owner.

  • He or she will not be permitted to change the Account Owner, Beneficiary, Successor Account Owner, Interested Party, firm, or Financial Advisor.

  • The Successor Account Owner has no rights in regard to the Account and cannot direct any changes, conversions, transfers, or cancellations, except in the event of the death or disability of the Account Owner.• You may revoke or change the Successor Account Owner at any time.

  • Optional, but recommended.)• If you choose to complete Section 4, you are required to provide full legal name and date of birth.• The Successor Account Owner will take control of the Account in the event of the Account Owner’s death or disability.


More Definitions of Successor Account Owner

Successor Account Owner means a “person” as described in Section 529(b)(1) of the Internal Revenue Code who acts on behalf of the Account Owner and succeeds him or her as Account Owner.
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Successor Account Owner. The person named in the Enrollment Application, or otherwise identified in writing, to the Advisor-Guided Plan, by the Account Owner to take control of the Account if the Account Owner dies. The Successor Account Owner may be your Beneficiary if your Beneficiary has reached the age of majority.
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Successor Account Owner means an individual named by the Contract Purchaser who meets the requirements to be a Purchaser and becomes the owner of the PACT Contract upon the death of the Contract Purchaser.
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Successor Account Owner. The person named in writing to Colorado ABLE by the Account Owner or Authorized Individual, during the Account Owner’s lifetime, who will succeed to all allowable right, title, and interest in a funded Account following the death of the Account Owner. The Successor Account Owner must qualify as an Eligible Individual at the time the Account is transferred and must also be a Sibling of the original Account Owner.
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Related to Successor Account Owner

  • Service Transfer Date means the date of a Service Transfer;

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Reais Transfer Date means each Business Day of each calendar month following a Business Day when, as of the Balance Transfer Time for the Bond Administrator, there are available funds in the Collections Account for allocation in accordance with the Indenture.

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Transfer Date means, in relation to a transfer, the later of:

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Administration Account As defined in Section 7.02.

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Relevant Transfer Date means, in relation to a Relevant Transfer, the date upon which the Relevant Transfer takes place;

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Initial Account has the meaning specified in the Transfer Agreement.

  • Individual account program means the defined contribution individual account program of

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Control Account Agreement means any tri-party agreement by and among a Loan Party, the Administrative Agent and a depositary bank or securities intermediary at which such Loan Party maintains a Controlled Account, in each case in form and substance satisfactory to the Administrative Agent.

  • Risk Transfer Date means the date when the risk of loss or damage to the Works passes from the Contractor to the Employer in accordance with sub Clauses 38.2 and 39.1.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).

  • Certificate Administrator Accounts As defined in Section 3.07(a) of this Agreement.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Equity Account Administrator means the brokerage firm utilized by the Company from time to time to create and administer accounts for participants in the Company’s equity plans and programs, including the Plan.

  • Eligible Retirement Plan means an individual retirement account described in Section 408(a) of the Code, an individual retirement annuity described in Section 408(b) of the Code, an annuity plan described in Section 403(a) of the Code, or a qualified trust described in Section 401(a) of the Code, that accepts the Distributee's Eligible Rollover Distribution. However, in the case of an Eligible Rollover Distribution to the surviving Spouse, an Eligible Retirement Plan is an individual retirement account or individual retirement annuity.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Concentration Account has the meaning provided in Section 6.13(c).