How is Premium Account defined in a legal contract?
- Premium Account means a distinct account created, maintained, and designated for the benefit of certain parties for specific uses and purposes specified within a [clause].
Seen in 6 SEC Filings - Premium Account means a bank account where the funds collected are held in trust for the benefit of a [organization]. Seen in 2 SEC filings
- Premium Account refers to an account in a bank authorized to operate, containing premium monies and voluntary deposits. Withdrawals from this account are regulated by specific [clause]. Seen in 2 SEC Filings
- Premium Account means a separate trust account established by a [organization] and maintained for the benefit of secured parties, subject to certain [clause].
Seen in 1 SEC Filing - Premium Account refers to a type of account where account holders can allocate funds into distinct sections (pods) for various purposes within a mobile application. The frequency or amount of transfers between the sections is not limited. Seen in 1 SEC Filing
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of premium account' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Premium Account means a specially designated account, created and maintained for the benefit of specific [party/parties], where funds are regulated by a [clause].
Relevant Contract Types
Relevant Circumstances
- Establishing a new financial account
- Investment and banking relationships
- When a party needs to hold funds in trust for beneficiaries
Relevant Sectors
Genie Definition 2
Premium Account means an account allowing holders to segregate and allocate funds to various purposes within a specific platform regulated by a [clause].
Relevant Contract Types
Relevant Circumstances
- Setting up a new software or app-based account
- When a user needs to manage funds within a digital platform
Relevant Sectors
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Premium Account means a specially designated account, created and maintained for the benefit of specific [party/parties], where funds are regulated by a [clause].
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