I've been doing it for years with my Mom and it's never been noticed and we've never been told to stop. I know several people here do it also. My Kindle actually has visited several accounts.
My own account
My Mom's
A reading group I belong to
My son with a Canadian Address
Not that I've ever actually combed through the Terms of Service, but I've really never seen anything that forbids moving a Kindle between accounts.
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