Without survivorship definition

Without survivorship or “no survivorship” means that upon the death of a co-owner the account is owned by the decedent’s estate and the surviving co-owners. Upon the death of a co-owner of a “without” or “no” survivorship account, we may require, at our option, withdrawals only upon the signature of the surviving account owners and the legal representative of the decedent’s estate, or we may pay the entire balance to the appropriate office of the court for distribution as the law may require, or we may pay the entire balance to the surviving co-owners and the decedent’s estate. Your joint account is subject to and governed in accordance with the applicable state laws with respect to joint accounts, as amended from time to time. Personal agency accounts may be established under and will be governed by Section 53C-6-8 of the NC General Statutes, as it may be amended from time to time. Your designated agent will not have any ownership interest in your account. In a personal agency account, you authorize your designated agent to act on your behalf with regard to the account. In addition to the powers given to your agent under the Statute, you also hereby authorize your designated agent to perform any other act related to your deposit account. You will be responsible for all of the acts of your agent, even if your agent acts contrary to your specific instructions or your best interest or exceeds his or her authority. We will not be responsible for your agent’s breach of fiduciary duty or the misapplication of funds from your account. Your agent’s authority will terminate upon your death, your written direction to us to terminate the agent’s authority, your incapacity or mental incompetence (unless you elect in writing to extend your agent’s authority notwithstanding your subsequent incapacity or mental incompetence), or the occurrence of any other event which, as a matter of law, terminates the agent’s authority. We may rely upon your agent’s acts and instructions, however, until we have knowledge that his or her authority has been terminated and have had a reasonable time to act upon that knowledge. You or your agent must promptly notify us when his or her authority has terminated, and your agent must notify us if he or she suspects that you have become incapacitated or mentally incompetent, even though you may not have been so legally adjudicated. Upon your death, the account balance will be paid to the legal representative of your estate or to the Clerk of Superior Court for dis...
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Without survivorship or “no survivorship” means that upon the death of a co-owner, the account is owned by the decedent’s estate and the surviving co-owners. Upon the death of a co-owner of a “without” or “no” survivorship account, we may require, at our option, with- drawals only upon the signatures of the surviving account owners and the legal representative of the decedent’s estate, or we may pay the entire balance to the appropriate office of the court for distribution as the law may require, or we may pay the entire balance to the surviving co-owners and the decedent’s estate. You have the sole responsibility for meeting any requirements set forth in applicable state law for the establishment of a joint account with right of survivorship. However, if you fail to meet any such requirements, you agree that, in the absence of any clear and convincing evidence on our records of a different intention at the time the account was created: (i) any account on which you are named on our records as co-owner with one or more other co-owners shall be a joint account with right of survivorship;
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Without survivorship or “no survivorship” means that upon the death of a co-owner, the ac- count is owned by the decedent's estate and the surviving co-own- ers. Upon the death of a co-owner of a“without” or “no” survivorship account, we may require, at our option, withdrawals only upon the signatures of the surviving account owners and the legal represen- tative of the decedent's estate, or we may pay the entire balance to the appropriate office of the court for distribution as the law may re- quire, or we may pay the entire balance to the surviving co-owners and the decedent's estate. You have the sole responsibility for meeting any requirements set forth in applicable state law for the establishment of a joint account with right of survivorship. However, if you fail to meet any such re- quirements, you agree that, in the absence of any clear and convinc- ing evidence on our records of a different intention at the time the account was created: (i) any account on which you are named on our records as co-owner with one or more other co-owners shall be a joint account with right of survivorship; (ii) the account shall have all the incidents described herein for joint accounts with right of survivorship; (iii) upon the death of a co-owner, the remaining funds in the account shall belong to, and may be paid directly to, the surviving co-owner(s); and (iv) our payment of such amounts to the surviving co-owner(s) shall be a complete and total discharge of our liability with respect to the funds in the account. This provision is intended to create a joint account with right of survivorship by contract without regard to statutory formalities.
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Related to Without survivorship

  • Foreign personal representative means a personal representative appointed by another jurisdiction.

  • Joint and Survivor Annuity means an immediate annuity for the life of a Participant with a survivor annuity for the life of the Participant's Spouse which is not less than fifty percent (50%), nor more than one hundred percent (100%) of the amount of the annuity payable during the joint lives of the Participant and the Participant's Spouse which can be purchased with the Participant's Vested interest in the Plan reduced by any outstanding loan balances pursuant to Section 7.4.

  • Passive RFID tag means a tag that reflects energy from the reader/interrogator or that receives and temporarily stores a small amount of energy from the reader/interrogator signal in order to generate the tag response. The only acceptable tags are EPC Class 1 passive RFID tags that meet the EPCglobal\TM\ Class 1 Generation 2 standard.

  • Personal representative means the person or persons who, upon the disability or incompetence of a Participant, shall have acquired on behalf of the Participant, by legal proceeding or otherwise, the power to exercise the rights or receive benefits under this Plan and who shall have become the legal representative of the Participant.

  • Special Representations has the meaning set forth in Section 8.1.

  • Community or broad-based enterprise means an enterprise that has an empowerment shareholder who represents a broad base of members such as a local community or where the benefits support a target group, for example black women, people living with disabilities, the youth and workers. Shares are held via direct equity, non-profit organisations and trusts.

  • person with disability means a person as referred to in clause (t) of section 2 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and Full Participation) Act, 1995 or clause (j) of section 2 of the National Trust for Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disabilities Act, 1999;

  • Passive NFE Under the CRS a “Passive NFE” means any NFE that is not an Active NFE. An Investment Entity located in a Non-Participating Jurisdiction and managed by another Financial Institution is also treated as a Passive NFE for purposes of the CRS.

  • Qualified Joint and Survivor Annuity means an immediate annuity for the life of the Participant with a survivor annuity for the life of the Spouse which is fifty percent (50%) of the amount of the annuity which is payable during the joint lives of the Participant and the Spouse and which is the amount of benefit which can be purchased with the Participant's Vested Account Balance.

  • Mother means the mother or expectant mother of the child.

  • Race or ethnicity means of a particular descent, including Caucasian, African, Hispanic, Asian, or Native American descent.

  • war widower s pension” means any pension or allowance payable to a man as a widower or to a surviving civil partner under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003 in respect of the death or disablement of any person;

  • Spouse means, an individual who,

  • Stepparent means a person who is not the parent of the dependent child, but is the legal spouse of the dependent child’s parent by ceremonial or common-law marriage.

  • Lineal Descendant means a child, grandchild, great grandchild, etc., and shall include only lineal descendants by and through birth, or by legal adoption of an individual who has not attained age 18. The term shall also include individuals so born or adopted after the date of this Agreement.

  • legal personal representative means the personal or other legal representative of the shareholder;

  • Survivors Committee” means the Additional Tort Claimants Committee Of Sexual Abuse Survivors, appointed by the U.S. Trustee on December 19, 2018.

  • Passive NFFE means any NFFE that is not (i) an Active NFFE, or (ii) a withholding foreign partnership or withholding foreign trust pursuant to relevant U.S. Treasury Regulations.

  • Minor child means a biological or adopted child of the

  • Father means the male, biological parent of a child.

  • Person living as a spouse means a person who is living or has lived with the offender in a common law marital relationship, who otherwise is cohabiting with the offender, or who otherwise has cohabited with the offender within five years prior to the date of the alleged commission of the act in question.

  • Legal representative means a person who in law represents the estate of a deceased person, and includes any person who intermeddles with the estate of the deceased, and, where a party acts in a representative character, the person on whom the estate devolves on the death of the party so acting;

  • Grandparent means the parent of an Employee’s Parent.

  • Person with disabilities means an individual with 1 or more disabilities.

  • Company Fundamental Representations means the representations and warranties set forth in Section 3.1 (Organization; Authority; Enforceability), Section 3.2(a) (Non-contravention), Section 3.3 (Capitalization), Section 3.13 (Brokerage) and Section 3.20 (Affiliate Transactions).

  • Parent Fundamental Representations means the representations and warranties of Parent set forth in Section 5.1 (Corporate Existence and Power), Section 5.3 (Corporate Authorization), Section 5.6 (Finders’ Fees), Section 5.7 (Issuance of Shares), and Section 5.8 (Capitalization).