I believe that, if your bank is willing to do it, you can legally do it, unless there is a state law to the contrary.
I suggest you make no representation as to FDIC insurance coverage for an account titled in this way, however. Joint account coverage is only available to natural persons, and I don't think FDIC attorneys would recognize this form of ownership as a joint account.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8