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To: U.S. Bancorp Investments, Inc.
In consideration of your opening and continuing a U.S. Bancorp Investments, Inc. TOD Security Account for me, I ("I", "me", or "customer"
means the individual signing this Agreement at the customer signature line. "You" and "Your" means U.S. Bancorp Investments, Inc.) agree as
1. Establishment of Transfer on Death Account. I desire to establish a Transfer on Death (TOD) Security Account pursuant to the
provisions of the Minnesota Uniform TOD Security Registration Act (Minnesota Statutes, Sections 524.6-301 to 524.6-311). Upon my
death, you will transfer the assets in my TOD Account which are eligible for TOD distribution, according to the terms and conditions of this
Agreement, to the beneficiaries and in the proportions designated in this Agreement.
2. Governing Law. This Agreement shall be governed by the laws of the State of Minnesota and shall inure to the benefit of
U.S. Bancorp Investments and its successors and assigns and shall be binding on me, my heirs, executors, administrators, assigns, and
3. U.S. Bancorp Investments, Inc., TOD Disclosure Statement to Apply. I understand that this TOD Account Agreement shall be subject
to the U.S. Bancorp Investments TOD Disclosure Statement, a copy of which I have received, and the provisions of the Minnesota Uniform
TOD Security Registration Act. I understand that the terms defined in the U.S. Bancorp Investments TOD Disclosure Statement shall have
the same meaning in this Agreement. I further understand that the U.S. Bancorp Investments TOD Disclosure Statement may be amended
by U.S. Bancorp Investments at any time upon thirty (30) days notice mailed to me at my address of record at U.S. Bancorp Investments.
4. Effect of Other State Laws. I acknowledge and agree that if Transfer on Death Registration is not permitted under the laws of the
jurisdiction where I am domiciled at the time of establishing the TOD Account or at the time of my death, you may, absent notice from any
duly appointed executor or administrator of my estate or any person having or claiming to have an interest in my estate or any claim to the
Eligible Securities in my TOD Account on behalf of my estate, transfer the Eligible Securities pursuant to the beneficiary designations set
forth. I agree that you shall have all the protections of the Minnesota Uniform TOD Security Registration Act in the event of any such
transfer and I, on behalf of my estate and my successors in interest, further agree to indemnify and hold you harmless from any claims
against my estate or any person acting on behalf of my estate for any such transfer.
5. Allocation of Account Assets
• If the TOD Account Agreement designates percentages that equal more than one hundred percent (100%), the share of each beneficiary
shall be reduced proportionately until the total equals 100%.
• If the TOD Account Agreement designates percentages that equal less than 100%, the share of each beneficiary shall be increased
proportionately until the total equals 100%.
6. Changes of Beneficiaries. I acknowledge and agree that this Agreement shall not be effective until it is received and accepted at your
principal office. I understand that any changes in the Designated Beneficiaries or the Contingent Beneficiaries may be made only by
completing a new U.S. Bancorp Investments Transfer on Death Account Agreement signed by me and that no such change shall be
effective until it is received and accepted by you at your principal office. I understand that, pursuant to Minnesota statutes governing this
TOD Account, I may revoke all designations of Beneficiaries by specific reference to this TOD Account in my Will.
7. Right to Change Beneficiaries. I understand and acknowledge that no agent, attorney-in-fact, conservator, guardian, or other person
acting in my behalf may change the Beneficiaries except by Court Order. This provision shall not prohibit the sale, pledge, or other transfer
of the securities in my TOD Account by any agent, attorney-in-fact, conservator, or guardian.
8. Distribution to Descendants by Right of Representation. Assets distributable to the descendants of a deceased person "by right of
representation" shall first be divided into as many shares as there are surviving children and deceased children of the deceased person.
Each surviving child shall receive one share and the share of each deceased child will be distributed to that child’s descendants,
proceeding through each generation until surviving issue exists.
"Issue" is defined as any child born to or legally adopted by the person.
Example: Generation 1 = Albert, age 86, and his wife Alice were original JTWROS owners of this TOD Account.
After Alice passed away, Albert became sole owner with the same TOD in effect as previously.
Albert and Alice were the parents of Barbara and Burton.
Generation 2 = Burton, age 58, father of Chaz and Chase
Barbara, age 54, Burton’s sister who has no children
Generation 3 = Chaz, age 28, and Chase, age 26; Burton’s sons
Generation 4 = Dustin and Derek, age 1; Chaz’s twin sons
Scenario: 1. Burton and his son Chaz are killed in the same accident.
2. Burton’s dad Albert dies two years later. Since Albert had two children, two equal shares are created: 50% for
Barbara and 50% for Burton’s issue.
3. Because Burton is deceased, his share passes down one generation to his two sons Chaz + Chase "by right of
• Chase inherits 50% of Burton’s share. (This equals 25% of Albert + Alice’s assets.)
• Because Chaz is deceased, his share passes down one generation to his little boys "by right of
representation." (This equals 12.5% of Albert and Alice’s assets to each little boy.)
TRANSFER ON DEATH INDIVIDUAL ACCOUNT AGREEMENT
ACCOUNT #NAME SSN/TIN