EX-10.1
from 8-K
11 pages
1. Joint Accounts. if the Account Is a Joint Account, Each Account Holder Has Full Authority to Act on Behalf of the Account and Customer Authorizes MCM to Follow the Instructions of Any Account Holder as if Such Person Were the Sole Account Holder. All Obligations Arising Hereunder Are Joint and Several and May Be Enforced by MCM Against Any or All Account Holders. Notwithstanding the Foregoing, MCM May Require Joint Action by All Account Holders With Respect to Any Matter Concerning the Accounts, Including the Giving or Cancellation of Orders, and the Withdrawal of Monies, Securities, or Other Property. in the Event of the Death of Either or Any of the Joint Account Holders, the Surviving Joint Account Holder(s) Shall Immediately Give MCM Written Notice Thereof, and MCM May, Before or After Receiving Such Notice, Take Such Action, Require Such Papers and Inheritance or Estate Tax Waivers, Retain Such Portion of and/or Restrict Transactions in the Accounts as MCM May Deem Advisable. the Surviving Joint Account Holder(s) and the Estate of the Deceased Joint Account Holder Shall Be Jointly and Severally Liable to MCM for Any Net Debit Balance or Loss in the Accounts in Any Way Resulting From Transactions Initiated Prior to the Receipt by MCM of the Written Notice of the Death or Incurred in the Liquidation of the Accounts or the Adjustment of the Interests of the Respective Parties. MCM Will Assume That Customers Are Holding the Account as Joint Tenants With Rights of Survivorship. if Customer Intends to Hold the Account as Tenants-In-Common Please Notify MCM Immediately
12/34/56