Indemnification and Guarantee Agreement – Deposit Account of a Minor

The ownership of the account I am opening with Bank of Oklahoma (“bank”) includes myself and one minor. By electronically acknowledging and signing this document I permit the bank to establish and maintain an account with myself and the listed minor (“Minor”).

In consideration of the establishment and maintenance of this account, the undersigned hereby agree(s) to indemnify and hold the Bank harmless from and against any and all loss, costs, damage and expense, including service charges, paper statement fees, transaction fees charged against this account prior to the Minor’s 18th birthday, along with any interest, court costs and attorneys' fees you may sustain in connection with collection of any such charges or fees.

Without limiting the generality of any of the foregoing, it is expressly understood and agreed that this indemnity shall cover the deposit of or negotiation of any and all checks or other orders for the payment of money by said Minor prior to his/her 18th birthday, including debit card transactions, withdrawals and transfers by means of automated teller machines.

In the event you should, in your sole discretion, permit the Minor to create an overdraft in the account, I/we guarantee the repayment thereof, and it is further understood that you are authorized to charge my/our accounts (or any thereof) in the event any liability should accrue against the undersigned by virtue of the undertakings contained in this Indemnification and Guarantee Agreement, or otherwise, for the purpose of satisfying such liability.

Signed Electronically	Account Open Date
Signature	Date

 

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Signature Revocation – Deposit Account of a Minor

I/we (“Parent” or “Guardian”) unconditionally and irrevocably permit the Bank to remove my/our signatory rights and ownership for the above-referenced joint account, at the request of said Minor ("Minor"), at any time on or after his/her 18th birthday.

I/we hereby agree to release and hold the Bank harmless from any claim relating to or arising out of my/our decision today to allow the removal of my/our signatory authority or ownership for the joint account, at the request of said Minor ("Minor"), on or after his/her 18th birthday.

Signed Electronically	Account Open Date
Signature	Date