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Rules for Online Business Resolution
Answer by John Burnett, Guru Bio

Question:   I had a Banker open an account for a corporation. He went online to get a copy of the state certification. When checking over the business resolution, I noticed that the person listed as Secretary on the state site is not the person listed as secretary on the resolution. Should I have them come back and redo the resolution?

Answer:   While I do agree that your bank needs to resolve the discrepancy to ensure that you have valid documentation for the corporation and its signers, don't assume that the documents you already have aren't acceptable. The online information only reflects what has been posted there. It's possible that there is a backlog of web posting at the Secretary of State's office or that the corporation hasn't yet filed an update after a change in officers.

You could start by asking known corporate officers about the discrepancy.

First published on BankersOnline.com 5/30/11







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