Uniform Transfers to Minors Accounts Sample Clauses

Uniform Transfers to Minors Accounts. At our option, we may accept deposits in Accounts established by a custodian under the Texas Uniform Transfers to Minors Act (TUTMA). A TUTMA Account is owned by the minor, and amounts deposited into the Account constitute an irrevocable gift to that minor. The custodian named is the sole Party entitled to access the Account for the minor's benefit. We have no duty to (i) determine if the person designated or acting as custodian has been duly designated, (ii) determine if an act of the custodian is in accordance with or authorized by the Texas Uniform Transfers to Minors Act, (iii) question the validity or propriety of any instrument or any instructions executed or given by a person acting as a donor or custodian or (iv) oversee the application by a custodian of money or other property paid or delivered to the custodian.
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Uniform Transfers to Minors Accounts. At our option, we may accept deposits in accounts established by a custodian under the Texas Uniform Transfers to Minors Act (TUTMA). A TUTMA is owned by the minor and amounts deposited into the account constitute an irrevocable transfer to that minor. The custodian named is the sole Party entitled to access the account for the minor’s benefit. A minor under TUTMA is any person under the age of 21. The Credit Union has no duty (a) to determine if the person designated or acting as custodian has been duly designated, (b) to determine if an act of the custodian is in accordance with or authorized by the Texas Uniform Transfers to Minors Act, (c) to question the validity or propriety of any instrument or any instructions executed or given by a person acting as a donor or custodian or (d) to oversee the application by a custodian of money or other property paid or delivered to the custodian.
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Uniform Transfers to Minors Accounts. If you have indicated in the Application that an Account is established under the Texas Uniform Transfer to Minors Act (“TUTMA”), the Party signing any such Application shall be a custodian, and the Accounts will be established by such custodian under the Texas Uniform Transfers to Minors Act for the benefit of the minor named. A TUTMA Account is owned by the minor, and amounts deposited into the Account constitute an irrevocable gift to that minor. The custodian named is the sole Party entitled to access the Account for the minor’s benefit. The Credit Union has no duty to (i) determine if the person designated or acting as custodian has been duly designated, (ii) determine if an act of the custodian is in accordance with or authorized by the Texas Uniform Transfers to Minors Act, (iii) question the validity or propriety of any instrument or instructions executed or given by a person acting as a donor or custodian, or
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Uniform Transfers to Minors Accounts. If you have indicated in the Application that an Account is established under the Texas Uniform Transfer to Minors Act (“TUTMA”), the Party signing any such Application shall be a custodian, and the Accounts will be established by such custodian under the Texas Uniform Transfers to Minors Act for the benefit of the minor named. A TUTMA Account is owned by the
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Uniform Transfers to Minors Accounts. At our option, we may issue shares and accept deposits in Accounts established by a custodian under the Texas Uniform Transfers to Minors Act
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Uniform Transfers to Minors Accounts. An account created under the Uniform Transfers to Minors Act (UTMA) is one that is opened when an irrevocable gift has been made to a custodian over the age of 18 for the benefit and on behalf of a minor. The minor does not have access to the account until he or she reaches age 21 (or age 18, depending on how the gift was made). The custodian alone—unless there is a court order that says otherwise—makes deposits, withdrawals, transfers, and other decisions about how the account is managed. We are not required to ask the custodian about the use or purpose of any transaction. If the custodian dies, we may suspend the account until we receive instructions from any person authorized by law to withdraw or transfer funds or a court order authorizing withdrawal or transfer. You may wish to consult your tax advisor or attorney before opening a UTMA account.
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Uniform Transfers to Minors Accounts. Under state law, we are permitted to open an account by which an individual of legal age acting as custodian makes deposits to the account for the benefit of a minor. Funds placed in the account become the irrevocable property of the minor, who is entitled to the funds at age 21. Until that time, the custodian w ill control the funds and must abide by state law regarding such accounts, including responsibility for transferring control of t he funds to the minor once he/she reaches age 21.
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Uniform Transfers to Minors Accounts. A Uniform Transfers to Minors account, also known as a Custodial account, is an individual account established by a member as a custodian on behalf of a minor (a person under twenty-one [21] years of age). This type of account requires the minor to have a separate membership account in his/her name and social security number. If the minor is not able to sign, a parent or legal guardian must sign for the minor. After the minor’s membership account is established, the custodian can then open the Custodial account in the name of the minor, include the minor’s SSN, and sign his or her own name on the signature card as custodian of the account. The custodian is the owner of the account for the exclusive right and beneft of the minor, and barring a court order otherwise, is the only party entitled to make deposits to, withdrawals from, or close the account. In the event of the custodian’s death, when no successor custodian has been named, the Credit Union may place an administrative hold on the account, until it receives a court order naming a new custodian.
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Uniform Transfers to Minors Accounts. Under the Oklahoma Uniform Transfers to Minors Act, you as a custodian, may open an account for an individual child. Once the account is established, the funds in the account become an irrevocable gift to the minor. The minor is entitled to the funds at age eighteen (18). You, as the custodian, a successor or substitute custodian may be appointed in accordance with Section 1219 of the Oklahoma Uniform Transfers to Minors Act. All accounts previously established under the Oklahoma Uniform Gift to Minors Act are valid but are now subject to the provisions of the Oklahoma Uniform Transfers to Minors Act effective November 1, 1986.
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Related to Uniform Transfers to Minors Accounts

  • Transfers to QIBs The following provisions shall apply with respect to the registration or any proposed registration of transfer of a Note constituting a Restricted Note to a QIB (excluding transfers to Non-U.S. Persons): (i) the Registrar shall register the transfer if such transfer is being made by a proposed transferor who has checked the box provided for on such Holder’s Note stating, or has otherwise advised the Issuer and the Registrar in writing, that the sale has been made in compliance with the provisions of Rule 144A to a transferee who has signed the certification provided for on such Holder’s Note stating, or has otherwise advised the Issuer and the Registrar in writing, that it is purchasing the Note for its own account or an account with respect to which it exercises sole investment discretion and that it and any such account is a QIB within the meaning of Rule 144A, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges that it has received such information regarding the Issuer as it has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon its foregoing representations in order to claim the exemption from registration provided by Rule 144A; and (ii) if the proposed transferee is an Agent Member, and the Notes to be transferred consist of Physical Notes which after transfer are to be evidenced by an interest in the Global Note, upon receipt by the Registrar of instructions given in accordance with the Depository’s and the Registrar’s procedures, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Note in an amount equal to the principal amount of the Physical Notes to be transferred, and the Trustee shall cancel the Physical Notes so transferred.

  • Transfers to Non-U.S. Persons The following provisions shall apply with respect to any transfer or exchange of a Restricted Security to a Non-U.S. Person under Regulation S: (i) the Registrar shall register any proposed transfer or exchange of a Restricted Security to a Non-U.S. Person upon receipt of a certificate substantially in the form of Exhibit D from the proposed transferor and such certifications, legal opinions and other information as the Issuers may reasonably require; and (ii) (A) if the proposed transferor is a Participant holding a beneficial interest in the Rule 144A Global Note or the IAI Global Note or the Note to be transferred or exchanged consists of Physical Notes, upon receipt by the Registrar of (x) the documents required by paragraph ‎(i) and (y) instructions in accordance with the Depository’s and the Registrar’s procedures, the Registrar shall reflect on its books and records the date and direct the Depository to decrease the principal amount of the Rule 144A Global Note or the IAI Global Note, as the case may be, in an amount equal to the principal amount of the beneficial interest in the Rule 144A Global Note or the IAI Global Note, as the case may be, to be transferred or exchanged or cancel the Physical Notes to be transferred or exchanged, and (B) if the proposed transferee is a Participant, upon receipt by the Registrar of instructions given in accordance with the Depository’s and the Registrar’s procedures, the Registrar shall reflect on its books and records the date and direct the Depository to increase the principal amount of the Permanent Regulation S Global Note in an amount equal to the principal amount of the interest in the Rule 144A Global Note, interest in the IAI Global Note or the principal amount of the Physical Notes, as the case may be, to be transferred or exchanged.

  • Transfers to Non-U (i) Prior to the expiration of the Restricted Period, the Registrar shall register any proposed transfer of an Initial Certificate to a Non-U.S. Person upon receipt of a certificate substantially in the form set forth as Exhibit A hereto from the proposed transferor. (ii) After the expiration of the Restricted Period, the Registrar shall register any proposed transfer to any Non-U.S. Person if the Certificate to be transferred is a Restricted Definitive Certificate or an interest in a Restricted Global Certificate, upon receipt of a certificate substantially in the form of Exhibit A from the proposed transferor. The Registrar shall promptly send a copy of such certificate to the Company. (iii) Upon receipt by the Registrar of (x) the documents, if any, required by clause (ii) and (y) instructions in accordance with DTC's and the Registrar's procedures, the Registrar shall reflect on its books and records the date of such transfer and a decrease in the principal amount of such Restricted Global Certificate in an amount equal to the principal amount of the beneficial interest in such Restricted Global Certificate to be transferred, and, upon receipt by the Registrar of instructions given in accordance with DTC's and the Registrar's procedures, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Regulation S Global Certificate in an amount equal to the principal amount of the Restricted Definitive Certificate or the Restricted Global Certificate, as the case may be, to be transferred, and the Trustee shall cancel the Definitive Certificate, if any, so transferred or decrease the amount of such Restricted Global Certificate.

  • Transfers, etc (a) This Warrant and the Warrant Shares shall not be sold or transferred unless either (i) they first shall have been registered under the Act and any applicable state securities laws, or (ii) the Company first shall have been furnished with an opinion of legal counsel, satisfactory to the Company, to the effect that such sale or transfer is exempt from the registration requirements of the Act and any applicable state securities laws. (b) Each certificate representing Warrant Shares shall bear a legend substantially in the following form: "The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered, sold or otherwise transferred, pledged or hypothecated unless and until such securities are registered under such act and applicable state securities laws or an opinion of counsel satisfactory to the Company is obtained to the effect that such registration is not required." The foregoing legend shall be removed from the certificates representing any Warrant Shares, at the request of the holder thereof, at such time as they become eligible for resale pursuant to Rule 144(k) under the Act. (c) The Company will maintain a register containing the name and address of the Holder of this Warrant. The Holder may change the Holder's address as shown on the warrant register by written notice to the Company requesting such change. (d) Subject to the provisions of clauses (a) and (b) of this Section 5, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant with a properly executed assignment (in the form of Exhibit II hereto) at the principal office of the Company (or, if another office or agency has been designated by the Company for such purpose, then at such other office or agency). Upon the presentation and surrender of such items to the Company, the Company shall execute and deliver to the transferee or transferees of this Warrant a new Warrant or Warrants, in the name of the transferee or transferees named in the assignment, and this Warrant shall at that time be canceled to the extent transferred.

  • Transfers From Other Plans We can receive amounts transferred to this ▇▇▇▇ ▇▇▇ from the trustee or custodian of another ▇▇▇▇ ▇▇▇ as permitted by the Code. In addition, we can accept rollovers of eligible rollover distributions from employer-sponsored retirement plans as permitted by the Code. We reserve the right not to accept any transfer.