Common use of Control of Multiple Party Accounts Clause in Contracts

Control of Multiple Party Accounts. Any owner is authorized and deemed to act for any other owner(s) and may instruct us regarding transactions and other account matters. Each owner guarantees the signature of any other owner(s). Any owner may withdraw all funds, stop payment on items, transfer or pledge to us all or any part of the funds in the account without the consent of the other owner(s). No owner may restrict the withdrawal rights of any other owner. Any owner with the consent of the Credit Union may add new Joint Owners and remove owners except that no Joint Owner may remove the Primary Owner. Any owner may remove himself/herself from the account at any time; however such removal will not relieve such an owner from any liability for which such owner had with respect to the account immediately prior to the removal. We have