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What is either or survivor?

Survivor
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What is either or survivor?

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In this facility, any one of the account holders (if it is in a joint name) can stake a claim to the money deposited and operate the account without the signature of the other account holder(s). Moreover, if one of the account holders has expired without any nomination, the other account holder can claim the funds on maturity.

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In such a case, any of the account holders (if it is in a joint name) can stake a claim to the money deposited and can operate the account without the signature of the other account holders.

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