Terms and Conditions Disclosure (2013)
NOTICE OF CHANGE - This is a notice of changes to the Terms and
Conditions of your account with us. Effective 30 calendar days after we
sent this notice to you, your account(s) shall be governed by the following
terms and conditions. Continued use of your account(s) after receipt of
these terms and conditions constitutes acceptance of, and agreement to,
the terms and conditions.
TERMS AND CONDITIONS OF YOUR ACCOUNT
AGREEMENT - This document, along with any other documents we give
you pertaining to your account(s), is a contract that establishes rules which
control your account(s) with us. Please read this carefully and retain it for
future reference. If you sign the signature card or open or continue to use
the account, 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, the laws of the state
of Tennessee and other applicable rules such as the operating letters of
the Federal Reserve Banks and payment processing system rules (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:
(1) summarize some laws that apply to common transactions;
(2) establish rules to cover transactions or events which the law does not
(3) establish rules for certain transactions or events which the law
regulates but permits variation by agreement; and
(4) give you disclosures of some of our policies to which you may be
entitled or 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
financial institution and the words “you” and “your” mean the account
holder(s) and anyone else with the authority to deposit, withdraw, or
exercise control over the funds in the account. However, this agreement
does not intend, and the terms “you” and “your” should not be interpreted,
to expand an individual’s responsibility for an organization’s liability. If this
account is owned by a corporation, partnership or other organization,
individual liability is determined by the laws generally applicable to that
type of organization. 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.
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, without notice to you, 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 from the charge or overdraft.
You will be liable for our costs as well as for our reasonable attorneys’
fees, to the extent permitted by law, whether incurred as a result of
collection or in any other dispute involving your account. This includes, but
is not limited to, disputes between you and another joint owner; you and an
authorized signer or similar party; or a third party claiming an interest in
your account. This also includes any action that you or a third party takes
regarding the account that causes us, in good faith, to seek the advice of
an attorney, whether or not we become involved in the dispute. All costs
and attorneys’ fees can be deducted from your account when they are
incurred, without notice to you.
DEPOSITS - We will give only provisional credit until collection is final for
any items, other than cash, we accept for deposit (including items drawn
“on us”). Before settlement of any item becomes final, we act only as your
agent, regardless of the form of indorsement or lack of indorsement on the
item and even though we provide you provisional credit for the item. We
may reverse any provisional credit for items that are lost, stolen, or
returned. 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 transactions 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 initiated on the next business day
that we are open. At our option, we may take an item for collection rather
than for deposit. If we accept a third-party check for deposit, we may
require any third-party indorsers to verify or guarantee their indorsements,
or indorse in our presence.
Generally - Unless clearly indicated otherwise on the account records, any
of you, acting alone, who signs to open the account or has authority to
make withdrawals may withdraw or transfer all or any part of the account
balance at any time. Each of you (until we receive written notice to the
contrary) authorizes each other person who signs or has authority to make
withdrawals to indorse any item payable to you or your order for deposit to
this account or any other transaction with us.
Postdated checks - A postdated check is one which bears a date later
than the date on which the check is written. We may properly pay and
charge your account for a postdated 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. Because
we process checks mechanically, your notice will not be effective and we
will not be liable for failing to honor your notice unless it precisely identifies
the number, date, amount and payee of the item.
Checks and withdrawal rules - If you do not purchase your check blanks
from us, you must be certain that we approve the check blanks you
purchase. We may refuse any withdrawal or transfer request which you
attempt on forms not approved by us or by any method we do not
specifically permit. We may refuse any withdrawal or transfer request
which is greater in number than the frequency permitted, or which is for an
amount greater or less than any withdrawal limitations. We will use the
date the transaction is completed by us (as opposed to the date you initiate
it) to apply the frequency limitations. In addition, we may place limitations
on the account until your identity is verified.
Even if we honor a nonconforming request, we are not required to do so
later. If you violate the stated transaction limitations (if any), in our
discretion we may close your account or reclassify it as a transaction
account. If we reclassify your account, your account will be subject to the
fees and earnings rules of the new account classification.
If we are presented with an item drawn against your account that would be
a “substitute check,” as defined by law, but for an error or defect in the item
introduced in the substitute check creation process, you agree that we may
pay such item.
See the funds availability policy disclosure for information about when you
can withdraw funds you deposit. For those accounts to 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
determine the amount of available funds in your account for the purpose of
deciding whether to return an item for insufficient funds at any time
between the time we receive the item and when we return the item or send
a notice in lieu of return. We need only make one determination, but if we
choose to make a subsequent determination, the account balance at the
subsequent time will determine whether there are insufficient available
Overdrafts - You understand that we may, at our discretion, honor
withdrawal requests that overdraw your account. However, the fact that we
may honor withdrawal requests that overdraw the account balance does
not obligate us to do so later. So you can NOT rely on us to pay overdrafts
on your account regardless of how frequently or under what circumstances
we have paid overdrafts on your account in the past. We can change our
practice of paying overdrafts on your account without notice to you. You
can ask us if we have other account services that might be available to you
where we commit to paying overdrafts under certain circumstances, such
as an overdraft protection line-of-credit or a plan to sweep funds from
another account you have with us. You agree that we may charge fees for
overdrafts. For consumer accounts, we will not charge fees for overdrafts
caused by ATM withdrawals or one-time debit card transactions if you
have not opted-in to that service. We may use subsequent deposits,
including direct deposits of social security or other government benefits, to
cover such overdrafts and overdraft fees.
Multiple signatures, electronic check conversion, and similar
transactions - An electronic check conversion transaction is a transaction
where a check or similar item is converted into an electronic fund transfer
as defined in the Electronic Fund Transfers regulation. In these types of
transactions the check or similar item is either removed from circulation
(truncated) or given back to you. As a result, we have no opportunity to
review the check to examine the signatures on the item. You agree that, as
to these or any items as to which we have no opportunity to examine the
signatures, you waive any requirement of multiple signatures.
Notice of withdrawal - We reserve the right to 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. (The law requires us to reserve this right, but it is
not our general policy to use it.) 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.
Individual Account - is an account in the name of one person.
Joint Account - With Survivorship (And Not As Tenants In Common) -
is an account in the name of two or more persons. Each of you intend that
when you die the balance in the account (subject to any previous pledge to
which we have agreed) will belong to the survivor(s). If two or more of you
survive, you will own the balance in the account as joint tenants with
survivorship and not as tenants in common.
Joint Account - No Survivorship (As Tenants In Common) - is owned
by two or more persons, but none of you intend (merely by opening this
account) to create any right of survivorship in any other person. We
encourage you to agree and tell us in writing of the percentage of the
deposit contributed by each of you. This information will not, however,
affect the “number of signatures” necessary for withdrawal.
Revocable Trust or Pay-On-Death Account - If two or more of you
create this type of account, you own the account jointly with survivorship.
Beneficiaries cannot withdraw unless: (1) all persons creating the account
die, and (2) the beneficiary is then living. If two or more beneficiaries are
named and survive the death of all persons creating the account,
beneficiaries will own this account in equal shares, without right of
survivorship. The person(s) creating either of these account types may: (1)
change beneficiaries, (2) change account types, and (3) withdraw all or
part of the account funds at any time.
BUSINESS, ORGANIZATION AND ASSOCIATION 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. You
represent that you have the authority to open and conduct business on this
account on behalf of the entity. We may require the governing body of the
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
STOP PAYMENTS - Unless otherwise provided, the rules in this section
cover stopping payment of items such as checks and drafts. Rules for
stopping payment of other types of transfers of funds, such as consumer
electronic fund transfers, may be established by law or our policy. If we
have not disclosed these rules to you elsewhere, you may ask us about
We may accept an order to stop payment on any item from any one of you.
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. Because stop-payment orders are
handled by computers, 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. Generally, if your stop-payment order is given to us in
writing it is effective for six months. Your order will lapse after that time if
you do not renew the order in writing before the end of the six-month
period. If the original stop-payment order was verbal your stop-payment
order will lapse after 14 calendar days if you do not confirm your order in
writing within that time period. We are not obligated to notify you when a
stop-payment order expires. A release of the stop-payment request may
be made only by the person who initiated the stop-payment order.
If you stop payment on an item and we incur any damages or expenses
because of the stop payment, you agree to indemnify us for those
damages or expenses, including attorneys’ fees. You assign to us all rights
against the payee or any other holder of the item. You agree to cooperate
with us in any legal actions that we may take against such persons. You
should be aware that anyone holding the item may be entitled to enforce
payment against you despite 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 in the Truth-in-Savings disclosure or in another document. 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. Items presented for payment after the account is closed may be
dishonored. When you close your account, you are responsible for leaving
enough money in the account to cover any outstanding items to be paid
from the account. Reasonable notice depends on the circumstances, and
in some cases such as when we cannot verify your identity or we suspect
fraud, it might be reasonable for us to give you notice after the change or
account closure becomes effective. For instance, if we suspect fraudulent
activity with respect to your account, we might immediately freeze or close
your account and then give you notice. You agree to keep us informed of
your current address at all times. Notice from us to any one of you is notice
to all of you. If we have notified you of a change in any term of your
account and you continue to have your account after the effective date of
the change, you have agreed to the new term(s).
STATEMENTS - Your duty to report unauthorized signatures,
alterations, forgeries and other errors - You must examine your
statement of account with “reasonable promptness.” If you discover (or
reasonably should have discovered) any unauthorized signatures,
alterations, incorrect payment amounts, or missing or incorrectly credited
deposits, 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 bear the loss
yourself unless you prove that we did not pay the item in good faith. 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, incorrect payment amounts, missing or incorrectly
credited deposits, 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 as between you and
us the loss will be entirely yours. This 60-day limitation is without regard to
whether we used good faith. The limitation in this paragraph is in addition
to that contained in the first paragraph of this section.
Errors relating to electronic fund transfers or substitute checks (For
consumer accounts only) - For information on errors relating to electronic
fund transfers (e.g., computer, debit card or ATM transactions) refer to
your Electronic Fund Transfers disclosure and the sections on consumer
liability and error resolution. For information on errors relating to a
substitute check you received, refer to your disclosure entitled Substitute
Checks and Your Rights.
ACCOUNT TRANSFER - This account may not be transferred or assigned
without our prior written consent.
DIRECT DEPOSITS - If we are required for any reason to reimburse the
federal government for all or any portion of a benefit payment that was
directly deposited into your account, 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 to open the
account or has authority to make withdrawals (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 a reasonable
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 prohibited by law. For
example, the right of setoff does not apply to this account if: (a) it is an
Individual Retirement Account or similar tax-deferred 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 any consensual security interest),
or (c) the debtor’s right of withdrawal only arises in a representative
capacity. 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.
ADDITIONAL AUTHORIZED SIGNATORY (Individual Accounts only) -
A single individual is the owner. The additional authorized signatory is
merely designated to conduct transactions on the owner’s behalf. The
owner does not give up any rights to act on the account, and the additional
authorized signatory may not in any manner affect the rights of the owner
or beneficiaries, if any, other than by withdrawing funds from the account.
The owner is responsible for any transactions of the additional authorized
signatory. We undertake no obligation to monitor transactions to determine
that they are on the owner’s behalf.
The owner may terminate the authorization at any time, and the
authorization is automatically terminated by the death of the owner.
However, we may continue to honor the transactions of the additional
authorized signatory until: (a) we have received written notice or have
actual knowledge of the termination of authority, and (b) we have a
reasonable opportunity to act on that notice or knowledge. We may refuse
to accept the designation of an additional authorized signatory.
RESTRICTIVE LEGENDS - The automated processing of the large
volume of checks we receive prevents us from inspecting or looking for
special instructions or “restrictive legends” on every check. Examples of
restrictive legends placed on checks are “must be presented within 90
days” or “not valid for more than $1,000.00.” For this reason, we are not
required to honor any restrictive legend placed on checks you write unless
we have agreed in writing to the restriction. We are not responsible for any
losses, claims, damages, or expenses that result from your placement of
these or other special instructions on your checks.
FACSIMILE SIGNATURES - Unless you make advance arrangements
with us, we have no obligation to honor facsimile signatures on your
checks or other orders. If we do agree to honor items containing 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.
You give us this authority 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. You must notify us at once if you
suspect that your facsimile signature is being or has been misused.
CHECK PROCESSING - We process items mechanically by relying solely
on the information encoded in magnetic ink along the bottom of the items.
This means that we do not individually examine all of your items to
determine if the item is properly completed, signed and indorsed or to
determine if it contains any information other than what is encoded in
magnetic ink. You agree that we have not failed to exercise ordinary care
solely because we use our automated system to process items and do not
inspect all items processed in such a manner. Using an automated
process helps us keep costs down for you and all account holders.
CHECK CASHING - We may charge a fee for anyone that does not have
an account with us who is cashing a check, draft or other instrument
written on your account. We may also require reasonable identification to
cash such a check, draft or other instrument. We can decide what
identification is reasonable under the circumstances and such identification
may be documentary or physical and may include collecting a thumbprint
INDORSEMENTS - We may accept for deposit any item payable to you or
your order, even if they are not indorsed by you. We may give cash back to
any one of you. We may supply any missing indorsement(s) for any item
we accept for deposit or collection, and you warrant that all indorsements
To ensure that your check or share draft is processed without delay, you
must indorse it (sign it on the back) in a specific area. Your entire
indorsement (whether a signature or a stamp) along with any other
indorsement information (e.g. additional indorsements, ID information,
driver’s license number, etc.) must fall within 11/2” of the “trailing edge” of a
check. Indorsements must be made in blue or black ink, so that they are
As you look at the front of a check, the “trailing edge” is the left edge.
When you flip the check over, be sure to keep all indorsement information
within 11/2” of that edge.
It is important that you confine the indorsement information to this area
since the remaining blank space will be used by others in the processing of
the check to place additional needed indorsements and information. You
agree that you will indemnify, defend, and hold us harmless for any loss,
liability, damage or expense that occurs because your indorsement,
another indorsement or information you have printed on the back of the
check obscures our indorsement.
These indorsement guidelines apply to both personal and business
DEATH OR INCOMPETENCE - You agree to notify us promptly if any
person with a right to withdraw funds from your account(s) dies or
becomes legally incompetent. We may continue to honor your checks,
items, and instructions until: (a) we know of your death or incompetence,
and (b) we have had a reasonable opportunity to act on that knowledge.
You agree that we may pay or certify checks drawn on or before the date
of death or legal incompetence for up to ten (10) days after your death or
legal incompetence unless ordered to stop payment by someone claiming
an interest in the account.
FIDUCIARY ACCOUNTS - Accounts may be opened by a person acting in
a fiduciary capacity. A fiduciary is someone who is appointed to act on
behalf of and for the benefit of another. This account may be opened and
maintained by a person or persons named as a trustee under a written
trust agreement, or as executors, administrators, or conservators under
court orders. You understand that by merely opening such an account, we
are not acting in the capacity of a trustee in connection with the trust nor
do we undertake any obligation to monitor or enforce the terms of the trust
CREDIT VERIFICATION - You agree that we may verify credit and
employment history by any necessary means, including preparation of a
credit report by a credit reporting agency.
LEGAL ACTIONS AFFECTING YOUR ACCOUNT - If we are served with
a subpoena, restraining order, writ of attachment or execution, levy,
garnishment, search warrant, or similar order relating to your account
(termed “legal action” in this section), we will comply with that legal action.
Or, in our discretion, we may freeze the assets in the account and not
allow any payments out of the account until a final court determination
regarding the legal action. We may do these things even if the legal action
involves less than all of you. In these cases, we will not have any liability to
you if there are insufficient funds to pay your items because we have
withdrawn funds from your account or in any way restricted access to your
funds in accordance with the legal action. Any fees or expenses we incur
in responding to any legal action (including, without limitation, attorneys’
fees and our internal expenses) may be charged against your account.
The list of fees applicable to your account(s) provided elsewhere may
specify additional fees that we may charge for certain legal actions.
SECURITY - It is your responsibility to protect the account numbers and
electronic access devices (e.g., an ATM card) we provide you for your
account(s). Do not discuss, compare, or share information about your
account number(s) with anyone unless you are willing to give them full use
of your money. An account number can be used by thieves to encode your
number on a false demand draft which looks like and functions like an
authorized check. If you furnish your access device and grant actual
authority to make transfers to another person (a family member or
FRONT OF CHECK
Pay to the
order of $
Address, City, State
BACK OF CHECK
Keep your indorsement
out of this area.
YOUR INDORSEMENT MUST
BE WITHIN THIS AREA
coworker, for example) who then exceeds that authority, you are liable for
the transfers unless we have been notified that transfers by that person are
no longer authorized.
Your account number can also be used to electronically remove money
from your account. If you provide your account number in response to a
telephone solicitation for the purpose of making a transfer (to purchase a
service or merchandise, for example), payment can be made from your
account even though you did not contact us directly and order the
You must also take precaution in safeguarding your blank checks. Notify
us at once if you believe your checks have been lost or stolen. As between
you and us, if you are negligent in safeguarding your checks, you must
bear the loss entirely yourself or share the loss with us (we may have to
share some of the loss if we failed to use ordinary care and if we
substantially contributed to the loss).
You agree that if we offer you services appropriate for your account to help
identify and limit fraud or other unauthorized transactions against your
account, such as positive pay or commercially reasonable security
procedures, and you reject those services, you will be responsible for any
fraudulent or unauthorized transactions which could have been prevented
by the services we offered, unless we acted in bad faith or to the extent our
negligence contributed to the loss.
TELEPHONIC INSTRUCTIONS - Unless required by law or we have
agreed otherwise in writing, we are not required to act upon instructions
you give us via facsimile transmission or leave by voice mail or on a
telephone answering machine.
CLAIM OF LOSS - If you claim a credit or refund because of a forgery,
alteration, or any other unauthorized withdrawal, you agree to cooperate
with us in the investigation of the loss, including giving us an affidavit
containing whatever reasonable information we require concerning your
account, the transaction, and the circumstances surrounding the loss. You
will notify law enforcement authorities of any criminal act related to the
claim of lost, missing, or stolen checks or unauthorized withdrawals. We
will have a reasonable period of time to investigate the facts and
circumstances surrounding any claim of loss. Unless we have acted in bad
faith, we will not be liable for special or consequential damages, including
loss of profits or opportunity, or for attorneys’ fees incurred by you.
You agree that you will not waive any rights you have to recover your loss
against anyone who is obligated to repay, insure, or otherwise reimburse
you for your loss. You will pursue your rights or, at our option, assign them
to us so that we may pursue them. Our liability will be reduced by the
amount you recover or are entitled to recover from these other sources.
EARLY WITHDRAWAL PENALTIES (and involuntary withdrawals) -
We may impose early withdrawal penalties on a withdrawal from a time
account even if you don’t initiate the withdrawal. For instance, the early
withdrawal penalty may be imposed if the withdrawal is caused by our
setoff against funds in the account or as a result of an attachment or other
legal process. We may close your account and impose the early
withdrawal penalty on the entire account balance in the event of a partial
early withdrawal. See your notice of penalty for early withdrawals for
ADDRESS OR NAME CHANGES - You are responsible for notifying us of
any change in your address or your name. Unless we agree otherwise,
change of address or name must be made in writing by at least one of the
account holders. Informing us of your address or name change on a check
reorder form is not sufficient. We will attempt to communicate with you only
by use of the most recent address you have provided to us. If provided
elsewhere, we may impose a service fee if we attempt to locate you.
RESOLVING ACCOUNT DISPUTES - We may place an administrative
hold on the funds in your account (refuse payment or withdrawal of the
funds) if it becomes subject to a claim adverse to (1) your own interest; (2)
others claiming an interest as survivors or beneficiaries of your account; or
(3) a claim arising by operation of law. The hold may be placed for such
period of time as we believe reasonably necessary to allow a legal
proceeding to determine the merits of the claim or until we receive
evidence satisfactory to us that the dispute has been resolved. We will not
be liable for any items that are dishonored as a consequence of placing a
hold on funds in your account for these reasons.
WAIVER OF NOTICES - You waive any notice of non-payment, dishonor
or protest regarding any items credited to or charged against your account.
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 and
you identify by name and number a beneficiary financial institution, an
intermediary financial institution or a beneficiary, we and every receiving or
beneficiary financial institution may rely on the identifying number to make
payment. We may rely on the number even if it identifies a 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 made 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 payment order to
credit an account you have with us by wire or ACH, we are not required to
give you any notice of the payment order or credit.
TRUNCATION, SUBSTITUTE CHECKS, AND OTHER CHECK IMAGES -
If you truncate an original check and create a substitute check, or other
paper or electronic image of the original check, you warrant that no one will
be asked to make payment on the original check, a substitute check or any
other electronic or paper image, if the payment obligation relating to the
original check has already been paid. You also warrant that any substitute
check you create conforms to the legal requirements and generally
accepted specifications for substitute checks. You agree to retain the
original check in conformance with our internal policy for retaining original
checks. You agree to indemnify us for any loss we may incur as a result of
any truncated check transaction you initiate. We can refuse to accept
substitute checks that have not previously been warranted by a bank or
other financial institution in conformance with the Check 21 Act. Unless
specifically stated in a separate agreement between you and us, we do not
have to accept any other electronic or paper image of an original check.
REMOTELY CREATED CHECKS - Like any standard check or draft, a
remotely created check (sometimes called a telecheck, preauthorized draft
or demand draft) is a check or draft that can be used to withdraw money
from an account. Unlike a typical check or draft, however, a remotely
created check is not issued by the paying bank and does not contain the
signature of the account owner (or a signature purported to be the
signature of the account owner). In place of a signature, the check usually
has a statement that the owner authorized the check or has the owner’s
name typed or printed on the signature line. For example, if a person
provides an account number in response to a telephone solicitation, the
telephone solicitor can use the account number to issue a remotely
created check to withdraw money from that account.
You warrant and agree to the following for every remotely created check
we receive from you for deposit or collection: (1) you have received
express and verifiable authorization to create the check in the amount and
to the payee that appears on the check; (2) you will maintain proof of the
authorization for at least 2 years from the date of the authorization, and
supply us the proof if we ask; and (3) if a check is returned you owe us the
amount of the check, regardless of when the check is returned. We may
take funds from your account to pay the amount you owe us, and if there
are insufficient funds in your account, you still owe us the remaining
UNLAWFUL INTERNET GAMBLING NOTICE - Restricted transactions as
defined in Federal Reserve Regulation GG are prohibited from being
processed through this account or relationship. Restricted transactions
generally include, but are not limited to, those in which credit, electronic
fund transfers, checks, or drafts are knowingly accepted by gambling
businesses in connection with the participation by others in unlawful
19 NATCHEZ TRACE DRIVE
LEXINGTON, TN 38351-0710
© 1988, 2009 Wolters Kluwer Financial Services – Bankers Systems™ Form TC-BRO 10/1/2012 TCM-51r4