585797 (Rev 04 – 12/13) Page 4 of 7
SECTION 9: FRACTIONAL SHARES
Your beneficiaries must instruct us in writing on how to allocate fractional shares or assets subject to minimum share
or amount designations. If your beneficiaries do not provide such instructions, we may, but are not required to, sell all
fractional or other shares and distribute the proceeds (after deducting sales commissions and expenses) according to
the percentage for each beneficiary. If we sell any fractional shares or other assets in your account after your death,
the proceeds will be subject to backup tax withholding.
SECTION 10: MARGIN OR DEBIT BALANCE
We have the right to reduce any distribution to beneficiaries if there are any outstanding financial obligations of the
account owner, including but not limited to, any margin or debt balance. This shall include any dividends, interest,
earnings or other payments associated with these account assets. We also have the right to select which assets to
sell to pay the margin or debit balance prior to distribution.
SECTION 11: WELLS FARGO LOAN BALANCE
If your account is pledged to secure a loan balance owed to Wells Fargo Bank, NA when the last surviving account
owner dies, the outstanding loan balance must be paid in full prior to any distributions. We may, at our sole discretion,
sell any and all securities in your account to satisfy any outstanding balance and your representatives or beneficiaries
will not be entitled to choose which securities are sold. If the last surviving account owner is deceased, contact
email@example.com for instruction on paying off the outstanding loan balance.
SECTION 12: LIABILITY
We will not have any liability if we pay out interest or dividends after the last surviving account owner’s death and the
beneficiaries have not provided us with all of the documents listed in Section 8 above in a timely manner.
Should our distribution of assets be delayed by the beneficiaries’ failure to provide us with the documents listed in
Section 8 above, or by a dispute or claim to your account, we will not be liable for any resulting decline in the value of
Once we distribute assets from your account, we will be released fully from any liability.
If we distribute assets to a beneficiary and a court finds that the beneficiary is liable to an account owner’s estate for
expenses, then we will have no liability to the estate or to the beneficiary, unless we received written notice of
objection before the asset distribution.
We will not be liable for failing to notify you of changes in TOD law that may affect your account.
SECTION 13: DISPUTES
If we cannot determine the person entitled to receive a distribution or their proper share, or if a dispute by a
beneficiary or a beneficiary's descendants or spouse arises as to the proper distribution, or if claims to the distribution
are made by creditors of the estate, surviving spouse, personal representative or executor, heirs or others, we
reserve the right to require the parties to determine their respective rights by court order, arbitration or in any other
manner acceptable to us prior to making any distribution.
SECTION 14: MISCELLANEOUS
You, your estate or your successors-in-interest, including all beneficiaries and heirs shall fully indemnify and hold
Wells Fargo Advisors, its agents, affiliates, successors and assigns, parent companies, subsidiaries, officers,
directors, shareholders, members, employees and attorneys harmless from and against all claims, actions, costs,
liabilities and damages including attorney fees arising out of or relating to:
Any conflicting designation of the assets in your Account by Will, trust or any other instrument;
Any written change of beneficiary(ies) that you have made that has not been accepted by us;
Distributions made upon notice of the death of the last surviving account holder pursuant to the terms of this
Any other action taken by us in opening and maintaining your account under this Agreement or registering
and titling the securities in your account;
We make no representation as to the effectiveness of your beneficiary designations or the tax consequences of
holding this account or distributing assets from it. You should seek legal or other appropriate counsel regarding all
legal and tax issues related to this TOD agreement and registration.