Common use of Designation of Agents Clause in Contracts

Designation of Agents. An owner of an account may designate a person or per- sons to be an agent on the account who will be authorized to conduct transactions on the account. We will require you and your agent(s) to provide information about the agent(s) and will also require each agent to sign Part 1 of this Agreement (the account form). An agent only has the right to conduct transactions on the account, and has no ownership or survivorship rights in the account or to the funds held in the account, and cannot initiate, change, add, close or terminate an account or service. If you want to add a person to your account who can initiate, change, add, close and/or terminate an account or service, you may add the person as an owner on the account. If you request us to place an agent on an account who has not signed the Part 1 account form (or other form we use), you agree that person is an agent on the account who may conduct transactions according to this Agreement. Once you have designated an agent on your account, it is your sole responsibility and not our responsibility to monitor an agent’s transactions on the account, and you agree that we have no duty or responsibility to monitor, inquire about or notify you of the use and purpose of any transaction conduct- ed by your agent on the account, or assure that any transaction is for your benefit. The agent’s authority to conduct transactions will continue until we receive written notice that you have terminated the agent’s authority or until we receive written notice of your death and have a reasonable opportunity to act on that notice. Any owner may also remove an agent from an account, though if you wish to terminate an agent’s authority to conduct transactions on the account, we may require you to notify us in writing and we may require you to change Part 1 of this Agreement, or close the account. We have no duty to prevent an agent from conducting transactions on the account until you have made any requested change or closed the account. Upon your death on a one owner account or the final surviving owner’s death on a multiple owner account, any funds in the account will be disbursed according to this Agreement.

Designation of Agents. An owner of an account may designate a person or per- sons to be an agent a signer on the account who will be authorized to conduct transactions on the account. We will require you and your agent(ssigner(s) to provide information about the agent(ssigner(s) and will also require each agent signer to sign Part 1 of this Agreement (the account form). An agent A signer only has the right to conduct transactions on the account, and has no ownership or survivorship rights in the account or to the funds held in the account, and cannot initiate, change, add, close or terminate an account or service. If you want to add a person to your account who can initiate, change, add, close and/or terminate an account or service, you may add the person as an owner on the account. If you request us to place an agent a signer on an account who has not signed the Part 1 account form (or other oth- er form we use), you agree that person is an agent a signer on the account who may conduct transactions according to this Agreement. Once you have designated an agent a signer on your account, it is your sole responsibility and not our responsibility to monitor an agenta signer’s transactions on the account, and you agree that we have no duty or responsibility to monitor, inquire about or notify you of the use and purpose of any transaction conduct- ed by your agent signer on the account, or assure that any transaction is for your benefit. The agentsigner’s authority to conduct transactions will continue until we receive written notice that you have terminated the agentsigner’s authority or until we receive written notice of your death and have a reasonable opportunity to act on that notice. Any owner may also remove an agent a signer from an account, though if you wish to terminate an agenta signer’s authority to conduct transactions on the account, we may require you to notify us in writing and we may require you to change Part 1 of this Agreement, or close the account. We have no duty to prevent an agent a signer from conducting transactions on the account until you have made any requested change or closed the account. Upon your death on a one owner account or the final surviving owner’s death on a multiple owner account, any funds in the account will be disbursed according to this Agreement.