Terms
and Conditions
YOUR DEPOSIT ACCOUNT TERMS AND CONDITIONS AGREEMENT
This document, along with any other documents we give you pertaining to your
account(s), is a contract that establishes rules that
which control your account(s) with us. Please read
this carefully. If you sign the signature card or open
or continue to have your account with us, you agree to
these rules. You will receive a separate schedule of rates,
qualifying balances, and fees if they are not included
in this document. If you have any questions, please
call us.
This agreement is subject to applicable federal laws and
the laws of the state of Texas (except to the extent that
this agreement can and does vary such rules or laws). The
body of state and federal law that governs our relationship
with you, however, is too large and complex to be reproduced
here. The purpose of this document is to: - summarize
some laws that apply to common transactions;
- establish
rules to cover transactions or events which the law
does not regulate;
- establish rules for certain transactions
or events which the law regulates but permits variation
by agreement; and
- give you disclosures of some
of our policies to which you may be entitled on in which
you may be interested.
If any provision of this document is found to be unenforceable
according to its terms, all remaining provisions will
continue in full force and effect. We may permit some
variations from our standard agreement, but we must agree
to any variation in writing either on the signature card
for your account or in some other document. As used in
this document the words "we," "our," and "us" mean the account holder(s) and anyone else with the authority to deposit, withdraw, or exercise control over the funds in the account. The headings in this document are for convenience or reference only and will not govern the interpretation of the provisions. Unless it would be inconsistent to do so, words and phrases used in this document should be construed so the singular includes the plural and the plural includes the singular. "Party" means a person who, by the terms of an account, has a present right, subject to request, to payment from the account, other than as a beneficiary or agent.
LIABILITY- You agree for yourself (and the person or
entity you represent if you sign as a representative
of another) to the terms of this account and the schedule
of charges. You authorize us to deduct these charges
directly from the account balance as accrued. You will
pay any additional reasonable charges for services you
request which are not covered by this agreement.
Each
of you also agrees to be jointly and severally (individually)
liable for any account shortage resulting from charges
or overdrafts, whether caused by you or another with
access to this account. This liability is due immediately,
and can be deducted directly from the account balance
whenever sufficient funds are available. You have no
right to defer payment of this liability, and you are
liable regardless of whether you signed the item or
benefited fro the charge or overdraft. This includes
liability for our costs to collect the deficit including,
to the extent permitted by law, our reasonable attorneys' fees.
Deposits - We will give only provisional credit until collection is final for any items, other than cash, we accept for depositing (including items drawn "on us"). Actual credit for deposits of, or payable in, foreign currency will be at the exchange rate in effect on final collection in U.S. dollars. We are not responsible for transaction by mail or outside depository until we actually record them. We will treat and record all transactions received after our "daily cutoff time" on a business day we are open, or received on a day we are not open for business, as if indicated on the next following business day that we are open.
WITHDRAWALS - Unless clearly indicated otherwise on the account records, any
of you, acting alone, who signs in the space designated for signatures on
the signature card any withdraw or transfer all of any part of the account balance
at any time. Each of you (until we receive written notice to the contrary)
authorizes each other person signing the signature card to indorse any item payable
to you or your order for deposit to this account or any other transaction with
us. We may charge your account for a check even though payment was made before
the date of the check, unless we have received written notice of the postdating
in time to have a reasonable opportunity to act. We may refuse any withdrawal
or transfer request which you attempt on forms not approved by us, by any method
we do not specifically permit, which is greater in number than the frequency
permitted, or which is for an amount greater or less than any withdrawal limitations.
Even if we honor a nonconforming request, we may treat continued abuse of the
stated limitations (if any) as your act of closing the account. We will use the
date the transaction is completed by us (as opposed to the date you initiate
it) to apply the frequency limitations. The fact that we may honor withdrawal
requests that overdraw the available account balance does not obligate us to
do so later. See the funds availability policy disclosure for information about
when you can withdraw funds you deposit. For those accounts for which our funds
availability policy disclosure does not apply, you can ask us when you make a
deposit when those funds will be available for withdrawal.
We may require not less than 7 days notice in writing
before each withdrawal from an interest-bearing account
other than a time deposit, or from any other savings
account as defined by Regulation D. Withdrawals from
a time account prior to maturity or prior to any notice
period may be restricted and may be subject to penalty.
See your notice of penalty for early withdrawal.
OWNERSHIP
OF ACCOUNT AND BENEFICIARY DESIGNATION
These rules
apply to this account depending on the form of ownership
and beneficiary designation, if any, specified on the
account records. We make no representations as to the
appropriateness or effect of the ownership and beneficiary
designations, except as they determine to whom we pay
the account funds.
SINGLE PARTY ACCOUNT WITHOUT "P.O.D." (Payable on Death) DESIGNATION -The party to the account owns the account. On the death of the party, ownership of the account passes to the P.O.D. beneficiaries of the account. The account is not a part of the party's estate.
MULTIPLE-PARTY ACCOUNT WITHOUT
RIGHT OF SURVIVORSHIP -
The parties to the account own the account in proportion to the parties' net contributions to the account. The financial institution may pay any sum in the account to a party at any time. On the death of a party the party's ownership of the account passes to the surviving parties.
MULTIPLE PARTY ACCOUNT WITH
RIGHT OF SURVIVORSHIP- The
parties to the account own the account in proportion
to the parties' net contributions to the account. The financial institution may pay any sum in the account to a party at any time. On the death of a party, the party's ownership of the account passes to the surviving parties.
MULTIPLE-PARTY ACCOUNT WITH
RIGHT OF SURVIVORSHIP AND "P.O.D." (Payable on Death) DESIGNATION- The parties to the account own the account in proportion to the parties' net contributions to the account. The financial institution may pay any sum in the account to a party at any time. On the death of the last surviving party, the ownership of the account passes to the P.O.D. beneficiaries.
CONVENIENCE ACCOUNT - The parties to the account own
the account. One or more convenience signers to the account
may make account transactions for a party. A convenience
signer does not own the account. On the death of the
last surviving party, ownership of the account passes
as a part of the last surviving party's estate under the last surviving party's will or by intestacy. The financial institution may pay funds in the account to a convenience signer before the financial institution receives notice of the death of the last surviving part. The payment to a convenience signer does not affect the parties' ownership of the account.
TRUST ACCOUNT- The parties named as trustees to the
account own the account in proportion to the parties' net contributions to the account. A trustee may withdraw funds from the account. A beneficiary may not withdraw funds from the account before all trustees are deceased. On the death of the last surviving trustee, the ownership of the account passes to the beneficiary. The trust account is not a part of a trustee's estate and does not pass under the trustee's will or by intestacy, unless the trustee survives all of the beneficiaries and all other trustees.
BUSINESS ACCOUNTS - Earnings in the form of interest,
dividends, or credits will be paid only on collected
funds, unless otherwise provided by law or our policy.
We may require the governing body of the legal entity
opening the account to give us a separate authorization
telling us who is authorized to act on its behalf. We
will honor the authorization until we actually receive
written notice of a change from the governing body of
the legal entity.
STOP PAYMENTS - You must make any stop
payment order in the manner required by law and we
must receive it in time to give us a reasonable opportunity
to act on it before our stop-payment cutoff time. To
be effective, your stop-payment order must precisely
identify the number, date and amount of the item, and
the payee.
You may stop payment on any item drawn on
your account whether you sign the item or not, if
you have equal or greater right to withdraw from this
account than the person who signed the item. A release
of the stop-payment request may be made only by the person
who initiated the stop-payment order.
Our stop-payment
cutoff time is one hour after the opening of the
next banking day after the banking day on which we receive
the item. Additional limitations on our obligation
to stop payment are provided by law (e.g., we paid
the item in cash or we certified the item).
TELEPHONE TRANSFERS - A telephone transfer of funds from this account to another account with us, if otherwise arranged for or permitted, may be made by the same persons and under the same conditions generally applicable to withdrawals made in writing. Unless a different limitation is disclosed in writing, we restrict the number of transfers from a savings account to another account or to third parties, to a maximum of six per month (less the number of "preauthorized transfers" during the month). Other account transfer restrictions may be described elsewhere.
AMENDMENTS AND TERMINATION - We may change any term of this agreement. Rules governing changes in interest rates are provided separately. For other changes, we will give you reasonable notice in writing or by any other method permitted by law. We may also close this account at any time upon reasonable notice to you and tender of the account balance personally or by mail. Notice from us to any one of you is notice to all of you.
STATEMENTS - You must examine your statement of account with "reasonable promptness." If you discover (or reasonably should have discovered) any unauthorized signatures or alterations, you must promptly notify us of the relevant facts. As between you and us, if you fail to do either of these duties, you will have to either share the loss with us, or bear the loss entirely yourself (depending on whether we used ordinary care and, if not, whether we contributed to the loss). The loss could be not only with respect to items on the statement but other items with unauthorized signatures or alterations by the same wrongdoer.
You agree that the time you have to examine your statement
and report to us will depend on the circumstances, but
will not, in any circumstance, exceed a total of 30 days
from when the statement is first sent or made available
to you.
You further agree that if you fail to report
any unauthorized signatures, alterations, forgeries,
or any other errors in your account within 60 days
of when we first send or make the statement available,
you cannot assert a claim against us on any items in
that statement, and between you and us the loss will
be entirely yours. This 60-day limitation is without
regard to whether we used ordinary care. The limitation
in this paragraph is in addition to that contained in
the first paragraph of this section.
ACCOUNT TRANSFER - This account may not be transferred or assigned without our prior written consent.
DIRECT DEPOSIT - If, in connection with a direct deposit plan, we deposit any amount in an account which should have been returned to the Federal Government for any reason, you authorize us to deduct the amount of our liability to the Federal Government from the account or from any other account you have with us, without prior notice and at any time, except as prohibited by law. We may also use any other legal remedy to recover the amount of our liability.
TEMPORARY ACCOUNT AGREEMENT - If this option is selected, this is a temporary account agreement. Each person who signs in the space designated for signatures on the signature card (except as indicated to the contrary) may transact business on this account. However, we may at some time in the future restrict or prohibit further use of this account if you fail to comply with the requirements we have imposed within reasonable time.
SETOFF - We may (without prior notice and when permitted by law) set off the funds in this account against any due and payable debt you owe us now or in the future, by any of you having the right of withdrawal, to the extent of such persons' or legal entity's right to withdraw. If the debt arises from a note, "any due and payable debt" includes the total amount of which we are entitled to demand payment under the terms of the note at the time we set off, including any balance the due date for which we properly accelerate under the note.
This right of setoff does not apply to this account
if: (a) it is an IRA or other tax-deferred retirement
account, or (b) the debt is created by a consumer credit
transaction under a credit card plan (but this does not
affect our rights under consensual security interest),
(c) the debtor's right of withdrawal only arises in a representative capacity, or (d) the debt is created by a home equity loan. We will not be liable for the dishonor of any check when the dishonor occurs because we set off a debt against this account. You agree to hold us harmless from any claim arising as a result of our exercise of our right of setoff.
RESTRICTIVE LEGENDS - We are not required to honor any restrictive legend on checks you write unless we have agreed in writing to the restriction. Examples of restrictive legends are "must be presented within 90 days" or "not valid from more than $1,000.00."
ACH and Wire Transfers - This agreement is subject to Article 4A of the Uniform
COMMERCIAL CODE - Fund Transfers as adopted in the state in which you have your account with us. If you originate a fund transfer for which Fedwire is used, and you identify by name and number a beneficiary financial institution, an intermediary financial institution, person or account other than the one named. You agree to be bound by automated clearing house association rules. These rules provide, among other things, that payments made to you, or originated by you, are provisional until final settlement is made through a Federal Reserve Bank or payment is otherwise as provided in Article 4A-403(a) of the Uniform Commercial Code. If we do not receive such payment, we are entitled to a refund from you in the amount credited to your account and the party originating such payment will not be considered to have paid the amount so credited. If we receive a credit to an account you have with us by wire or ACH, we are not required to give you notice of the payment order or credit.
FACSIMILE SIGNATURES - You authorize us, at any time, to charge you for all checks, drafts, or other orders, for the payment of money, that are drawn on us regardless of by whom or by what means the facsimile signature(s) may have been affixed so long as they resemble the facsimile signature specimen filed with us, and contain the required number of signatures for this purpose.
PLEDGES - Unless we agree otherwise in writing, each owner if this account
may pledge all or any part of the funds in it for any purpose to which
we agree. Any pledge of this account must first be satisfied before the
rights of any surviving account owner or account beneficiary become effective.
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