NOW Accounts: Requirements For Farm Accounts

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NOW Accounts: Requirements For Farm Accounts
by Linda Westfall
BIO AND CONTACT INFO

QUESTION: What are the requirements for farm accounts for NOW account eligibility. Can a Husband-wife, brother-brother, etc. have a Partnership NOW account?

ANSWER: A husband and wife unincorporated business can own a NOW account. I believe this would include a farm account. However any other situation, brother/brother, etc., would be ineligible to own a NOW account.

First published on BankersOnline.com 6/4/01

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