Transfer of Account Ownership Sample Clauses

Transfer of Account Ownership. You may not transfer any of your rights to your Account without our consent. Ownership of your Account is only transferable on our records with our consent. Even if we consent, we may require you to close that Account and have the new Account Owner open a new Account in his or her name. IRAs may not be transferred except to a qualified successor custodian or trustee. You may be liable for a fee upon transfer of your Account as described in the Deposit Account Disclosure.

Transfer of Account Ownership. You may transfer the ownership of your Account to another individual or entity that is eligible to be an Account Owner by submitting the appropriate Direct Plan form. You do not need to change the Beneficiary if you transfer Account ownership. A transfer of the ownership of an Account will be effective only if the assignment is irrevocable and transfers all rights, title and interest in the Account. Contributions Who May Contribute. Anyone (including your friends and family) may make a contribution to your Account. A person, other than the Account Owner, who contributes to an Account will not retain any rights with respect to such contribution—for example, only the Account Owner may give investment instructions for contributions or request withdrawals from the Account. Contribution Minimums. The minimum initial and subsequent contribution to an Account is $25 in each Investment Option selected or $15 per pay period per Investment Option selected if you contribute using payroll deduction. Methods of Contribution. Contributions to an Account, which must be in U.S. dollars, may be made: Impermissible Methods of Contribution. The Direct Plan cannot accept contributions made by cash, starter check, traveler’s check, credit card, convenience check or money order. Checks. Checks should be made payable to the “Connecticut Higher Education Trust.” Personal checks, bank drafts, tellers’ checks, cashier’s checks and checks issued by a financial institution or brokerage firm payable to the Account Owner and endorsed over to the Direct Plan by the Account Owner are permitted, as are third-party personal checks up to $10,000 that are endorsed over to the Direct Plan. If you opened your Account prior to August 8, 2014, and you have not submitted Allocation Instructions for your Account for future contributions, with each contribution by check, you will need to tell the Direct Plan in which Investment Option(s) your contribution should be invested and how much of the contribution should be invested in each Investment Option.

Transfer of Account Ownership. You may transfer the ownership of your Account to another individual or entity that is eligible to be an Account Owner by submitting the appropriate Plan form. You do not need to change the Beneficiary if you transfer Account ownership. A transfer of the ownership of an Account will be effective only if the assignment is irrevocable, and transfers all rights, title, and interest in the Account. Certain types of Account Owners who are not individuals may be subject to restrictions on their ability to transfer ownership of the Account.

Transfer of Account Ownership. You may transfer the ownership of your Account to another individual or entity that is eligible to be an Account Owner by submitting the appropriate Plan form. You do not need to change the Beneficiary if you transfer Account ownership. A transfer of the ownership of an Account will be effective only if the assignment is irrevocable, and transfers all rights, title and interest in the Account. Certain types of Account Owners that are not individuals may be subject to restrictions on their ability to transfer ownership of the Account. A change in Account ownership may have income or gift tax consequences. You should consult with a qualified advisor regarding the possible tax and legal consequences of transferring ownership of an Account. Contributions Who May Contribute. Anyone (including your friends and family) may make a contribution to your Account. However, there may be gift or other adverse tax consequences to the contributor and/or the Account Owner. A person, other than the Account Owner, who contributes to an Account, will not retain any rights with respect to such contribution — for example, only the Account Owner may give investment instructions for contributions or request withdrawals from the Account. Contribution Minimums. The minimum initial and subsequent contribution to an Account is $25 in each Investment Option selected or $15 per pay period per Investment Option selected if you contribute using payroll deduction. Methods of Contribution. Contributions to an Account, which must be in U.S. dollars, may be made: Impermissible Methods of Contribution. The Plan cannot accept contributions made by cash, starter check, traveler’s check, credit card, convenience check, cashier’s check or money order. Checks. Checks should be made payable to the “Mississippi Affordable College Savings Program.” Personal checks, bank drafts, tellers’ checks and checks issued by a financial institution or brokerage firm payable to the Account Owner and endorsed over to the Plan by the Account Owner are permitted, as are third- party personal checks up to $10,000 that are endorsed over to the Plan. For contributions by check, the Account Owner will need to instruct the Plan regarding which Investment Option(s) the contribution should be invested (and how much should be invested in each Investment Option). Automatic Contribution Plan You may authorize the Plan to periodically debit your checking or savings account on your Application or, after your Account is opened,...

Transfer of Account Ownership. You may transfer the ownership of your Account to another individual or entity that is eligible to be an Account Owner by submitting the appropriate Plan form. You do not need to change the Beneficiary if you transfer Account ownership. A transfer of the ownership of an Account will be effective only if the assignment is irrevocable, and transfers all rights, title and interest in the Account. Certain types of Account Owners that are not individuals may be subject to restrictions on their ability to transfer ownership of the Account. If a change of Account ownership is required by order of a court of competent jurisdiction directing such change or by an affidavit or declaration that is recognized under applicable law as requiring transfer of ownership upon death without a court order, such change of Account ownership will not be effective until the Plan receives the court order, affidavit or declaration requiring such change and the change is registered in the records of the Plan, unless otherwise required by law.‌ You should consult with a qualified advisor regarding the possible tax and legal consequences of making changes to your Account.

Transfer of Account Ownership. Ownership of your Accounts is only transferable on our records with our prior consent. Even if we consent, we may require you to close your Accounts and have the new Account Owner open new Accounts in their name.

Transfer of Account Ownership. You may not pledge, grant a security interest, or transfer ownership or any of your rights in your Account without the Credit Union’s consent, which we may withhold. The ownership of your Account is transferable only on our records with our consent. Even if we consent to an ownership transfer, we may require you to close that Account and have the new Account owner open a new Account in his or her own name. Involuntary Account closure. We may close any of your Accounts at any time for any reason. Upon closing the Account we will give you notice and a check for the balance or notify you that the funds have been transferred to another Account you own.