| (a) A depository account may be transferred to another
person only on presentation to the depository of:
(1) evidence of transfer satisfactory to the depository;
and
(2) an application for the transfer submitted by the
person to whom the depository account is to be transferred.
(b) A person to whom a depository account is to be
transferred must accept the transferred account subject to the terms
of the depository account agreement and must otherwise be eligible
to open an account under applicable laws and regulations. If a person
to whom a depository account is to be transferred is not eligible
to open an account under applicable law and these rules, the depository
may close the account and take all steps that are reasonably necessary
to deliver to the transferee the balance of the depository account,
minus any applicable fees.
(c) The depository may require the transferee to provide
information as is reasonably necessary to ensure that a delivery of
precious metals under this section is made in accordance with applicable
law and policies established by the depository.
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