Skip to content

Board/Executive Officers Exempt from OD Safeguard?

Answered by: 

Question: 
Are board of directors and executive officers exempt from having Overdraft safeguard? What if they are listed in a non-owner relationship in a deposit account?
Answer: 

"Overdraft safeguard" appears to be a label placed by one or more banks on a particular form of service relating to overdrafts. Without knowing the form of that service (line of credit, overdraft service, account transfers, etc.), and understanding what you mean by being "exempt from having" the service, a thoughtful answer is impossible.

First published on BankersOnline.com 6/18/12

First published on 06/18/2012

Search Topics