CMA® Financial Service Cash Management Account
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M202810PMS CMA® Financial Service ® Cash Management Account Disclosures and Account Agreement Contents AGREEMENT AND PROGRAM DESCRIPTION . 2 O) Direct Deposit Service .................... 34 1. Introduction ........................................ 2 P) MyMerrill ........................................ 34 2. Definitions .......................................... 3 7. Termination of the Service ................... 34 3. Subscription to the Service .................... 5 8. Fees and Charges ................................. 35 4. Securities Brokerage Services ............... 6 9. Authorization with Respect to Consumer Information ......................... 35 A) General .............................................. 6 B) SIPC Protection .............................. 6 10. Confirmations, Periodic Statements and Notices .......................................... 36 C) Direct Reinvestment Service ............ 6 D) Custody of Securities ........................ 6 11. Account Information ............................ 36 E) Delivery of Securities and 12. Extraordinary Events ........................... 36 Payments .......................................... 7 13. Amendments and Additional F) Security Interest ................................ 7 Documentation.................................... 36 G) Privacy ........................................... 8 14. Miscellaneous ...................................... 37 5. Lending Services..................................... 8 A) Severability .................................. 37 A) Margin Lending Program .................. 8 B) Joint Accounts and Joint Several 6. Cash Management Services ............... 14 Liability ............................................ 37 A) General ........................................ 14 C) Ownership Changes on B) Account Linking to Bank of America, Joint Accounts ................................ 38 N.A., Debit Card .............................. 14 D) Costs of Collection .......................... 38 C) Statement Link Service .................. 14 E) Applicable Rules and Regulations 38 D) Tier Assignment and Account F) Disputes ....................................... 39 Valuation ........................................ 15 G) Special Accounts .......................... 39 E) Sweep Program .............................. 16 H) Third-Party Research ...................... 39 F) Considerations Regarding Bank I) Substitute Payments ...................... 39 Deposit Programs .......................... 18 J) Non-U.S.-Issued Securities ............. 39 G) Availability, Deposits and Information About Your Accounts K) Referral Policy................................. 40 Application of Funds ...................... 19 L) Compliance with Applicable Laws . 40 H) Purchasing Power and Overdraft ........................................ 21 M) Investment Policy Statement — Responsibility to Review and I) Debit Balances and Disbursement Monitor ........................................... 40 Priority ............................................ 24 N) Exercising Employee Stock J) Directed Reserve Program ............ 24 Options ......................................... 40 K) Check and Card Usage ................... 24 O) Non-U.S. Individual Clients and L) Electronic Funds Transfers ............ 28 U.S. Citizens Living Abroad ............. 41 M) Automated Investing ...................... 33 P) Successors .................................... 41 N) Electronic Bill Payment .................. 33 Q) Headings ...................................... 41 Cash Management Account | 1 R) Integration . 41 Financial Service consisting of: (1) a Master 15. Representations as to Ownership and CMA Account established with the services Capacity to Enter into Agreement . 41 described above; and (2) one or more CMA SubAccounts®. CMA SubAccounts have the 16. Applicable Laws . 42 same investment capabilities as CMA 17. Customer Information and Accounts, but do not ofer Visa cards, check Due Diligence . 42 writing and certain optional services. CMA About the CMA Annual Account SubAccounts are also charged a diferent Fee Waiver Program . 43 annual account fee and may be used to segregate investments (for another family About the Merrill Lynch Bank Deposit member, for instance, or for a specific Program . 47 purpose such as college funding). For more Margin Truth-in-Lending Disclosure information on fees, see the Appendix. Statement . 55 Certain aspects of the Service, such as Securities-Based Loan Disclosure Checks, Cards, and/or the Margin Lending Statement . 58 Program, may not be available for Accounts Appendix - CMA Account Fees . 62 that are enrolled in an investment advisory program or are in the process of enrolling in The following pages contain the disclosures and an investment advisory program. Additionally, agreement governing your CMA Account, including your ability to direct trades and purchase disclosures required by federal law. securities in your Account may be limited if your Account is enrolled in an investment Agreement and Program advisory program or in the process of enrolling in an investment advisory program. Description Te services provided by, and the terms and conditions of, the investment advisory 1. INTRODUCTION program you select will be described in Tis Agreement and Program Description separate documentation. (“Agreement”), as amended from time to time by Merrill Lynch, Pierce, Fenner & Smith Once you have established a CMA Account Incorporated (“Merrill Lynch”), sets forth the and we have your signed and returned Client terms and conditions governing the Cash Relationship Agreement, you may be eligible Management Account® (CMA®) financial to open additional CMA Accounts and/or service (“Service”). Afer you open an enroll in optional services at a later date account, you will receive a welcome kit, without completing a new Client Relationship which includes confirmation about the Agreement. Please see the Client account features and services you have Relationship Agreement for more details. selected as well as other important You agree to read this Agreement and retain disclosures. Te Service is an integrated a copy for your records. You acknowledge financial service linking two components: (1) receipt of the Merrill Lynch Bank Deposit securities brokerage services; and (2) Cash Program Disclosure Statement, Appendix: Management Services including the Visa® CMA Account Fees, the Margin Truth-in- deferred debit card and check writing Lending Disclosure Statement and the features. Although these Cash Management Securities-Based Loan Disclosure Statement, Services are intended to provide you with if applicable, all of which are referred to as access to assets in the account, CMA the “Documents” for purposes of this Accounts are not bank accounts. In addition, Agreement. Te Documents, which contain the Service includes the CMA Master additional terms governing the Service, are 2 | Cash Management Account incorporated into this Agreement and made a “Availability Delay” means the amount of part hereof. Unless the context otherwise time before a deposit to your CMA Account requires, the term “Agreement” shall include will become available for the Sweep Program the Documents, as amended from time to or to pay Disbursements and other amounts time by Merrill Lynch. You certify that all due. information you provide in connection with “BA-CA” means Bank of America California, the establishment of your accounts, including N.A., its successors or assigns. in reference to checks and Visa cards, is true and correct and that “BANA” means Bank of America, N.A., its Merrill Lynch, the Banks and UMB Bank, n.a., successors or assigns. may rely on and verify such information. Unless otherwise indicated, the Agreement “Banks” means BANA, BA-CA, MLBTC and applies to CMA Accounts. Merrill Lynch ofers any other afliated depository institutions CMA Accounts, as well as various products participating from time to time. and services, through diferent service “Bank Deposits” means the MLBDP, ISA, models, including the client self-directed and International Bank Variable Rate Deposit full-service channels. Based on the service Facility and Preferred Deposit. model, the same or similar account, product or service may vary in its price or fees “BTA” means Bank Transaction Account. charged to clients. “Business Day” means any day in which both the New York Stock Exchange and New 2. DEFINITIONS York banks are open for business. In this Agreement: “Card” or “Card(s)” means a Merrill Lynch “Account Value” means the value of cash, CMA Access® Visa® Debit card(s) issued by Bank Deposits, and long market value of BANA for use with the CMA Account. securities held as part of the Statement Link. “Cash Balance” means any uninvested cash “ACH” means Automated Clearing House. Te balance resulting from incoming receipts ACH Network is a nationwide electronic such as check deposits, cash deposits, ACH payment system used to transfer funds deposits, Fedwire® receipts or the proceeds between participating financial institutions. from the sale of securities. Tis is also known “Agreement” means the CMA Financial as your free credit balance. Service Cash Management Account “Cash Management Services” means Disclosures and Account Agreement and the services such as bank deposit programs Documents as amended from time to time. available through the Sweep Program, check “Authorized cardholder(s)” means the writing, Visa debit card and ACH. Accounts Information About Your cardholder(s) selected by you on the “Checks” means checks provided