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#1915088 - 04/16/14 07:12 PM New Owners-same accounts?
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,115
The Great White North
We have a situation where a business is being sold. The business is retaining the same name as well as the EIN. Are the new owners allowed to use the current accounts? My thought is yes, all we need to do is update the resolution really.

If they were to get a new EIN number, would that change the situation and it would be necessary to open new accounts?
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#1915166 - 04/16/14 11:06 PM Re: New Owners-same accounts? Bec
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Based on your description, I am assuming the new owners bought the stock of the corporation and the entity remains intact. If that's the case, all you need is a new board resolution naming the new signatories. Please confirm my assumption before you act on it.
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