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#1052262 - 09/27/08 04:18 PM DBA Account
dollars & sense Offline
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Joined: Oct 2006
Posts: 344
Can 4 individuals have a DBA account? What would their options be? I was thinking a partnership. Can a partnership be a DBA?

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#1052318 - 09/27/08 10:29 PM Re: DBA Account dollars & sense
RayLynch Offline
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RayLynch
Joined: Oct 2003
Posts: 544
There is no form of entity known as "DBA". DBA stands for "doing business as" and it is used when an individual or business entity uses a fictitious/assumed business name.

A partnership can use a dba name (the same holds true for corporations and LLCs).

The question is whether the 4 individuals have formed a partnership or joint venture. You should ask them if they have and if so, obtain a copy of their partnership/joint venture agreement to find out who has management control. If they are using a dba name then follow your bank's policy on obtaining a copy of the fictitious/assumed business name statement.

If the 4 individuals have not formed a partnership or joint venture, then the odds are they would constitute an unincorporated association. You should check your state's law to find out if the fictitious/assumed business statement statute applies to unincorporated associations as well.

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