I, the undersigned, hereby make application for membership in America's Christian Credit Union, a California corporation, (hereinafter referred to as "Credit Union") on behalf of the applicant account (hereinafter referred to as "Applicant") and represent and warrant that if the Applicant is incorporated that they are currently in good standing with the state in which the Applicant is incorporated and that, if the Applicant is a foreign corporation doing business in California or any state in which the Applicant makes application for membership in the Credit Union, the Applicant has met all requirements for a corporation doing business in California or the state in which it makes application for membership in the Credit Union. I, the undersigned, represent and warrant that (i) I have been directed by the Applicant for which I act to apply for membership in the Credit Union, (ii) I have been granted authority by the Applicant to execute this Application and Agreement for Membership on the behalf of the Applicant, and (iii) I have the authority to bind the Applicant for membership in the Credit Union.
The Applicant hereby agrees to pay the membership fee established from time to time by the Board of Directors, as a condition of admission to membership in the Credit Union and understands and agrees the Applicant shall not have any membership rights or become a member in the Credit Union until such time as (i) the membership fee, as stated in the Corporate Fee Schedule, established at the time of this application for membership is paid, (ii) this application for membership has been approved as provided in Sections 14456(a) and 14800(a) if the California Financial Code and (iii) the Applicant has provided any and all information required by the Credit Union to determine the Applicant's corporate existence, the Applicant's standing in the state of its incorporation, the state in which it makes application for membership in the Credit Union and the Applicant's eligibility for membership in the Credit Union. The Applicant hereby agrees, as a minimum requirement for the Credit Union's consideration of this Application and Agreement for Membership, to provide (i) if incorporated, a copy of the Applicant's Articles of Incorporation which must be certified if deemed necessary by the Credit Union, (ii) a copy of the most recent statement of its elected officers and directors and agent for service of process for the Applicant, and (iii) the federal tax identification number of the Applicant.
Further the Applicant agrees, upon approval of this Application and Agreement for Membership in the Credit Union, (i) to provide the Credit Union with any change in the address of its principal executive office and the address of its office in the state in which it made application for membership or the state or states in which it currently holds a share account, (ii) to provide annually to the Credit Union a statement listing its elected officers and directors and agent for service of process, and (iii) upon request from the Credit Union, a certified copy of a certificate showing the Applicant is a corporation in good standing with the state of incorporation and, if different from the state of its incorporation, the state or states in which it applied for membership in the Credit Union or currently holds a share account. No waiver or modifications of this Agreement or any covenant, condition or limitation contained in this Agreement shall be valid unless in writing and executed by the party to be charged with it. This Application and Agreement for Membership in the Credit Union shall be interpreted in accordance with and governed in all respects by the laws of the State of California.
Further the Applicant agrees: (i) To indemnify the Credit Union against and hold the Credit Union harmless from any and all loss damage, claim or expense which corporation may suffer to incur by reason of the foregoing, (ii) that the Credit Union is under no obligation to pay a share draft which exceeds the balance in the Share Draft Account; the Credit Union may, however, pay such a draft and charge the amount of resulting overdraft to any other share account which the person(s) who signed the share draft is entitled to withdraw from, (iii) the Credit Union is under no obligation to pay a share draft on which the date is more than six months old., (iv) except for the negligence, the Credit Union is not liable for any action it takes regarding the payment or non-payment of a share draft, (v) any dispute regarding an item listed on a monthly or quarterly statement shall be waived, unless made in writing to the Credit Union before the twentieth day following the day the statement is mailed, (vi) the share draft account is subject to service charges in accordance with the rate of schedules adopted by the Credit Union, and (vii) the use of the share draft account is subject to such other terms, conditions and requirements as the Credit Union may establish from time to time. The venue for the resolution of any dispute related to or arising out of this Application and Agreement for Membership in the Credit Union shall be the county in which the Credit Union has its principal executive office.
Financial Account Abuse and Closure of Account: The Credit Union reserves the right to suspend, restrict, deny, or terminate account services and activity, which may include placement of administrative holds on account proceeds, or take such actions as deemed necessary for suspected illegal activity or account financial abuse. You agree to indemnify and hold the Credit Union harmless from and against all claims, actions, damages, losses, and expenses, including legal fees, as a result of any action or inaction taken in relation to the matters described here. The Credit Union may close a checking account at any time. Closure of a checking account will not affect the obligation to pay any outstanding balances or charges owed.
Further I, the undersigned, assert that I have read and agree to the following: