Request for Distribution. Distribution from the Custodial Account shall be made by the Custodian only to a Participant, his designated Beneficiary or Alternate Payee. No purported sale, transfer, pledge or assignment by the Participant, the Participant’s s spouse or Beneficiary of all or any part of an interest in the Custodial Account shall be recognized by the Custodian except as provided herein. The interest of a Participant, the Participant’s spouse or Beneficiary in the Custodial Account shall not be subject to the debts, contracts, liabilities, engagements, or torts of such person or to attachment or legal process against such person. All distributions from this Custodial Account shall be requested on a form approved by the Custodian.
Appears in 2 contracts
Sources: Custodial Account Agreement, Custodial Account Agreement