Individual Account
This account is owned by one person who does not create any rights to the account in any other person.
Multiple Party Account - With Survivorship
This account is owned in the name of two or more persons. Each owner intends that upon death the balance in the account, subject to any outstanding pledge which has been consented, will belong to the survivor(s), and will not be inherited by the heirs of the deceased owner or controlled by the deceased owner's will. If two or more owners survive, the survivors will own the account equally with survivorship, unless otherwise required by applicable law.
Multiple Party Account - No Survivorship
This account is owned by two or more persons, none of whom intend to create any right of survivorship in any other person.
Revocable (Totten) Trust or Pay-On-Death Account
This account is owned by one or more persons/trustees who create this account. If two or more owners/trustees create this account, it is a multiple party account with survivorship and will not be inherited by the heirs of the deceased owner/trustee or controlled by the deceased owner's/trustee's will. The named beneficiary will acquire rights to the account only upon the death of all owners/trustees, and provided the beneficiary is then alive. In the case of two or more surviving beneficiaries, the account will become a multiple party account with no survivorship. The account owner(s)/trustees) reserve(s) the right, at any time, to change beneficiaries, account type, and/or account ownership and to withdraw all or part of the account balance.Custodian Under the Oklahoma Uniform Transfers to Minor Act- The funds deposited to this account, together with all earnings and additions constitute an irrevocable gift to the named Minor, to be administered by the named Custodian under the Oklahoma Uniform Transfers to Minors Act.
Fiduciary Account
The named representative(s) exercise(s) control over these accounts for the benefit of third party(ies), and the fiduciary relationship is established by an agreement.
Organization Account
This account is owned by the named organization, which acts through its authorized representatives. The governing body of the organization shall provide us with an authorization, in a form acceptable to us, telling us who is authorized to act in its behalf. We will honor this authorization until we actually receive written notice of a change from the governing body. We are not responsible for any transaction conducted by a previously authorized representative if we have not actually received written notice from the governing body of the organization that the representative is no longer authorized to transact on its behalf.
