Common use of Authorized Parties Clause in Contracts

Authorized Parties. The persons named on the Account Card or Account Change of Authority are au- thorized to act on behalf of the Member with respect to accounts based upon the authority set forth on the Busi- ness Account Card or Account Change of Authority. 1) Depositing, withdrawing and transferring funds into, out of and between one or more accounts; 2) Signing drafts, checks and other orders for payment or withdrawal; 3) Issuing instructions regarding order for payment or withdrawal; 4) Endorsing any check, draft, share certificate and other instrument or order for payment owned or held by the Member; and 5) Receiving information of any nature about the ac- count. The Credit Union is directed to accept and pay without further inquiry any item, signed by an Authorized Signer, drawn against any of the Member’s accounts. Unless otherwise indicated, any one Authorized Signer is expressly authorized to endorse all items payable to or owned by the Member for deposit with or collection by the Credit Union and to perform any other transac- tion permitted under the Agreement. The authority given to the Authorized Parties named on the Account Card shall remain in full force until written notice of revocation or a Business Account Card supplement is delivered to and received by the Credit Union at each location where an account is maintained. Any such notice shall not affect any items in process at the time notice is given. The Authorized Signer shall notify the Credit Union of any change in the Member’s composition, assumed business names, or any aspect of the entity affecting the deposit rela- tionship between the Member and the Credit Union before any such change occurs. The Credit Union shall have no duty to inquire as to the powers and duties of any Authorized Party and shall have no notice of any breach of fiduciary duties by any Authorized Party un- less the Credit Union has actual notice of wrongdoing.

Authorized Parties. The persons named on the Account Card or Account Change of Authority are au- thorized authorized to act on behalf of the Member with respect to accounts based upon the authority set forth on the Busi- ness Business Account Card or Account Change of Authority. 1) Depositing, withdrawing and transferring funds into, out of and between one or more accounts; 2) Signing drafts, checks and other orders for payment or withdrawal; 3) Issuing instructions regarding order for payment or withdrawal; 4) Endorsing any check, draft, share certificate and other instrument or order for payment owned or held by the Member; and 5) Receiving information of any nature about the ac- countaccount. The Credit Union is directed to accept and pay without further inquiry any item, signed by an Authorized Signer, Signer drawn against any of the Member’s accounts. Unless otherwise indicated, any one Authorized Signer is expressly authorized to endorse all items payable to or owned by the Member for deposit with or collection by the Credit Union and to perform any other transac- tion transaction permitted under the Agreement. The authority given to the Authorized Parties Signers named on the Account Card or Account Change of Authority shall remain in full force until written notice of revocation or a Business new Account Card supplement or Account Change of Authority is delivered to and received by the Credit Union at each location where an account is maintained. Any such notice shall not affect any items in process at the time notice is given. The An Authorized Signer shall notify the Credit Union of any change in the Member’s composition, assumed business names, or any aspect of the entity affecting the deposit rela- tionship relationship between the Member and the Credit Union before any such change occurs. The Credit Union shall have no duty to inquire as to the powers and duties of any Authorized Party Signer and shall have no notice of any breach of fiduciary duties by any Authorized Party un- less Signer unless the Credit Union has actual notice of wrongdoing.