Business and Organizational Accounts Clause Samples
The "Business and Organizational Accounts" clause defines the terms and conditions under which entities such as companies, non-profits, or other organizations may create and use accounts on a service or platform. It typically outlines who within the organization is authorized to act on its behalf, the responsibilities of the organization for actions taken through the account, and any verification or documentation requirements. This clause ensures that organizational accounts are properly managed and that liability and authority are clearly assigned, thereby reducing the risk of unauthorized use and clarifying accountability.
Business and Organizational Accounts. RBFCU offers Business and Organizational Accounts. Business and Organizational accounts are subject to the terms and conditions in both this agreement (M161AA) and an additional agreement (M161BB) for business and organizational accounts.
Business and Organizational Accounts. 1CFCU offers Business and Organizational Accounts. Business and Organizational accounts are subject to the terms and conditions as in this Agreement.
Business and Organizational Accounts. Customers with a business or organizational account will be liable for all transactions that occur on the account. The owner(s)/principal officer(s) of the business or organization account authorizes all transactions made by any other persons. The owner(s)/principal officer(s) of the business/organization account agrees to be liable for any other parties designated (by being given the Access ID and password) to conduct business on the account(s).
Business and Organizational Accounts. Accounts held by a non-natural person for a business or organizational purpose are sub- ject to the same terms set forth in this Agreement and the following additional rules. The account owners agree to inform the Credit Union of the persons authorized to transact business on behalf of the corporation or organization. The Credit Union may rely on the account owner’s representation of authorization stated on a written resolution until such time as the Credit Union is informed of changes in writing. The Credit Union shall have received no notice of any breach of fiduciary duties arising from a transaction by any agent of the account owner, unless the Credit Union has actual knowledge of any wrongdoing. If the use of facsimile signature stamps are used, you agree to hold the credit union harmless of any transactions containing a facsimile signature.