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Multiple-Party Account Without Right of Survivorship-The parties to the account own the account in proportion to the parties'net contributions to the account.The financial
<br /> institution may pay any sum in the account to a party at any time On the death of a party,the party's ownership of the account passes as a part of the party's estate under the
<br /> party's will or by Intestacy
<br /> Multiple-Party Account With Right of Survivorship-The parties to the account own the account in proportion to the parties' net contributions to the account. The financial
<br /> institution may pay any sum in the account to a party at any time On the death of a party,the party's ownership of the account passes to the surviving parties.
<br /> Multiple-Party Account With Right of Survivorship and"P.O.D."(Payable On Death)Designation-The parties to the account own the account in proportion to the parties'net
<br /> contributions to the account.The financial institution may pay any sum in the account to a party at any time.On the death of the last surviving party,the ownership of the account
<br /> passes to the P O.D.beneficiaries.
<br /> CONVENIENCE ACCOUNT-The parties to the account own the account One or more convenience signers to the account may make account transactions for a party A
<br /> convenience signer does not own the account.On the death of the last surviving party,ownership of the account passes as a part of the last surviving parry's estate under the last
<br /> surviving party's will or by intestacy.The financial institution may pay funds in the account to a convenience signer before the financial institution receives notice of the death of the
<br /> last surviving party The payment to a convenience signer does not affect the parties'ownership of the account
<br /> Trust Account-The parties named as trustees to the account own the account in proportion to the parties'net contributions to the account A trustee may withdraw funds from the
<br /> account A beneficiary may not withdraw funds from the account before all trustees are deceased.On the death of the last surviving trustee,the ownership of the account passes to
<br /> the beneficiary The trust account is not a part of a trustee's estate and does not pass under the trustee's will or by intestacy,unless the trustee survives all of the beneficiaries and
<br /> all other trustees.
<br /> In Colorado, OWNERSHIP OF ACCOUNT AND BENEFICIARY DESIGNATION -These rules apply to this account depending on the form of ownership and beneficiary
<br /> designation,if any,specified on the account records.We make no representations as to the appropriateness or effect of the ownership and beneficiary designations,except as they
<br /> determine to whom we pay the account funds.
<br /> Single-Party Account-Such an account is owned by one party.
<br /> Multiple-Party Account-Parties own account in proportion to net contributions unless there is clear and convincing evidence of a different intent.
<br /> Rights At Death-Single-Party Account-At the death of a party,ownership passes as part of the party's estate.
<br /> Multiple-Party Account With Right of Survivorship-At death of party,ownership passes to surviving parties.If two or more parties survive and one is the surviving spouse of the
<br /> deceased party,the amount to which the deceased party,immediately before death,was beneficially entitled by law belongs to the surviving spouse If two or more parties survive
<br /> and none is the spouse of the decedent,the amount to which the deceased party,immediately before death,was beneficially entitled by law belongs to the surviving parties in equal
<br /> shares,and augments the proportion to which each surviving party,immediately before the deceased party's death,was beneficially entitled under law,and the right of survivorship
<br /> continues between the surviving parties.
<br /> Multiple-Party Account Without Right of Survivorship-At death of party,deceased party's ownership passes as part of deceased party's estate
<br /> Single-Party Account With Pay-on-Death Designation-At death of the party,ownership passes to the designated pay-on-death beneficiaries and is not part of the party's estate
<br /> Multiple-Party Account With Right of Survivorship and Pay-on-Death Designation -At death of last surviving party, ownership passes to the designated pay-on-death
<br /> beneficiaries and is not part of the last surviving party's estate
<br /> BUSINESS,ORGANIZATION AND ASSOCIATION ACCOUNTS- Earnings in the form of interest, dividends, or credits will be paid only on collected funds, unless otherwise
<br /> provided by law or our policy You represent that you have the authority to open and conduct business on this account on behalf of the entity We may require the governing body of
<br /> the entity opening the account to give us a separate authorization telling us who is authorized to act on its behalf We will honor the authorization until we actually receive written
<br /> notice of a change from the governing body of the entity
<br /> In Texas,STOP PAYMENTS-Unless otherwise provided,the rules in this section cover stopping payment of items such as checks and drafts Rules for stopping payment of other
<br /> types of transfers of funds,such as consumer electronic fund transfers,may be established by law or our policy.If we have not disclosed these rules to you elsewhere,you may ask
<br /> us about those rules.
<br /> We may accept an order to stop payment on any item from any one of you You must make any stop-payment order in the manner required by law, it must be made in a dated,
<br /> authenticated record that describes the item with certainty.(Generally,a"record"is information that is stored in such a way that it can be retrieved and can be heard or read and
<br /> understood—you can ask us what type of stop-payment records you can give us).We must receive it in time to give us a reasonable opportunity to act on it before our stop-
<br /> payment cutoff time.Because stop-payment orders are handled by computers,to be effective,your stop-payment order must precisely identity the number,date,and amount of the
<br /> item,and the payee
<br /> You may stop payment on any item drawn on your account whether you sign the item or not Your stop-payment order is effective for six months Your order will lapse after that time
<br /> if you do not renew the order in writing before the end of the six-month period.We are not obligated to notify you when a stop-payment order expires
<br /> If you stop payment on an item and we incur any damages or expenses because of the stop payment, you agree to indemnify us for those damages or expenses, including
<br /> attorneys'fees You assign to us all rights against the payee or any other holder of the item You agree to cooperate with us in any legal actions that we may take against such
<br /> persons.You should be aware that anyone holding the item may be entitled to enforce payment against you despite the stop-payment order
<br /> Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item.Additional limitations on our obligation to
<br /> stop payment are provided by law(e.g.,we paid the item in cash or we certified the item)
<br /> In Colorado,STOP PAYMENTS-Unless otherwise provided,the rules in this section cover stopping payment of items such as checks and drafts Rules for stopping payment of
<br /> other types of transfers of funds,such as consumer electronic fund transfers,may be established by law or our policy. If we have not disclosed these rules to you elsewhere,you
<br /> may ask us about those rules.
<br /> We may accept an order to stop payment on any item from any one of you.You must make any stop-payment order in the manner required by law and we must receive it in time to
<br /> give us a reasonable opportunity to act on it before our stop-payment cutoff time.Because stop-payment orders are handled by computers,to be effective,your stop-payment order
<br /> must precisely identify the number, date,and amount of the item,and the payee You may stop payment on any item drawn on your account whether you sign the item or not
<br /> Generally,if your stop-payment order is given to us in writing it is effective for six months Your order will lapse after that time if you do not renew the order in writing before the end
<br /> of the six-month period If the original stop-payment order was oral your stop-payment order will lapse after 14 calendar days if you do not confirm your order in writing within that
<br /> time period We are not obligated to notify you when a stop-payment order expires
<br /> If you stop payment on an item and we incur any damages or expenses because of the stop payment, you agree to indemnify us for those damages or expenses, including
<br /> attorneys'fees You assign to us all rights against the payee or any other holder of the item.You agree to cooperate with us in any legal actions that we may take against such
<br /> persons You should be aware that anyone holding the item may be entitled to enforce payment against you despite the stop-payment order.
<br /> Our stop-payment cutoff time is one hour after the opening of the next banking day after the banking day on which we receive the item Additional limitations on our obligation to
<br /> stop payment are provided by law(e.g,we paid the item in cash or we certified the item).
<br /> TELEPHONE TRANSFERS-A telephone transfer of funds from this account to another account with us,if otherwise arranged for or permitted,may be made by the same persons
<br /> and under the same conditions generally applicable to withdrawals made in writing. Limitations on the number of telephonic transfers from a savings account are described
<br /> elsewhere
<br /> AMENDMENTS AND TERMINATION-We may change any term of this agreement. Rules governing changes in interest rates are provided separately in the Truth-in-Savings
<br /> disclosure or in another document.For other changes,we will give you reasonable notice in writing or by any other method permitted by law.We may also close this account at any
<br /> time upon reasonable notice to you and tender of the account balance personally or by mail Items presented for payment after the account is closed may be dishonored.When you
<br /> close your account,you are responsible for leaving enough money in the account to cover any outstanding items to be paid from the account Reasonable notice depends on the
<br /> circumstances,and in some cases such as when we cannot verify your identity or we suspect fraud,it might be reasonable for us to give you notice after the change or account
<br /> closure becomes effective.For instance,if we suspect fraudulent activity with respect to your account,we might immediately freeze or close your account and then give you notice
<br /> If we have notified you of a change in any term of your account and you continue to have your account after the effective date of the change,you have agreed to the new term(s).
<br /> NOTICES-Any written notice you give us is effective when we actually receive it,and it must be given to us according to the specific delivery instructions provided elsewhere, if
<br /> any We must receive it in time to have a reasonable opportunity to act on it If the notice is regarding a check or other item,you must give us sufficient information to be able to
<br /> identify the check or item,including the precise check or item number,amount,date and payee.Written notice we give you is effective when it is deposited in the United States Mail
<br /> with proper postage and addressed to your mailing address we have on file.Notice to any of you is notice to all of you.
<br /> STATEMENTS-Your duty to report unauthorized signatures,alterations and forgeries-You must examine your statement of account with"reasonable promptness."If you
<br /> discover(or reasonably should have discovered)any unauthorized signatures or alterations,you must promptly notify us of the relevant facts.As between you and us,if you fail to
<br /> do either of these duties,you will have to either share the loss with us,or bear the loss entirely yourself(depending on whether we used ordinary care and, if not, whether we
<br /> contributed to the loss).The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.
<br /> You agree that the time you have to examine your statement and report to us will depend on the circumstances,but will not,in any circumstance,exceed a total of 30 days from
<br /> when the statement is first sent or made available to you.
<br /> You further agree that if you fail to report any unauthorized signatures,alterations or forgeries in your account within 60 days of when we first send or make the statement available,
<br /> you cannot assert a claim against us on any items in that statement,and as between you and us the loss will be entirely yours.This 60-day limitation is without regard to whether we
<br /> used ordinary care.The limitation in this paragraph is in addition to that contained in the first paragraph of this section.
<br /> ©2019 Wolters Kluwer Financial Services,Inc All rights reserved
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