01/17/2021
When a corporation has an account titled "Smith mowing DBA Jones Hardware," may we accept deposits in both company names into the one
account?
01/03/2021
We are on the verge of implementing eSign for our branches for maintenance tasks in addition to account opening and lending. I think this will help with some customers who tend to change signers rather frequently, such as with closers on settlement agents' accounts. I'm beginning to consider whether collecting their signatures on Resolutions adds value, or whether an authorization from the principals in the Resolution is sufficient? I am also considering whether we can use a separate authorized signer list with signatures as an appendix, rather than re-creating a signature card every time there is a signer added or deleted. Am I behind the times?
12/13/2020
We have a client who owns several business accounts under a corporate DBA. The accounts are titled "ABC Corporation, DBA DEF Company". He also has the Family Trust listed under each account. We are told that he cannot have business accounts under the trust because once a trust, always trust. Will he then need to close and reopen these under the Corporation?
11/01/2020
Can two separate LLCs have a "joint" bank account, and if state laws impact this, in the state of Florida?
08/09/2020
Regarding a Beneficial Owner Certification: ABC, LLC (Borrower) is 100% owned by DEF, Inc. DEF, Inc. is 33.33% owned by 3 individuals. Would I need to list the individuals as having 25% or more ownership on the certification, even though they are not owners of ABC, LLC?
08/25/2019
We have a customer wanting to open an Professional Limited Liability Company. What should the bank get for documentation? Do we need the
Admission to Transact Business and Articles of Organization?
06/23/2019
We have a LLC wanting to open a DBA under the LLC. The TIN number and the Article of Organization only has the LLC's name.
1. Does the LLC need to get an Certificate of Assumed Name filed with the Secretary of State?
2. Will they have to file the DBA at the county also? (We know at this time the DBA is filed under someone else's name at the county currently.)
05/12/2019
Can a corporation sweep from a personal account? We say no but are checking what you think?
02/17/2019
We have a customer trying to open a business account. He has provided us with a 2017 Tax Return, which gives us the Tax ID under which the business is operating. I typed this Tax ID number into the Texas Comptroller of Public Accounts website and got a hit, showing that the business is in good standing. However, the name that was listed has been changed since the Comptroller website was updated (surprising since the 2017 Tax Return reflects this change).
The company is not currently operating and, therefore, the individual opening the account does not have access to documentation of the name change for the Secretary of State office. The question is, do we have what we need to open the account? The tax return and Comptroller website verify that the Tax ID number is valid and in Good Standing, but they disagree on the business name.
02/04/2018
A corporate CD signer passed away. The daughter and son would like to be added to said CD. On the State of Florida's Division of Corporations web site, both son and daughter are registered for the corporation. The daughter shows as a registered agent, and the son as officer/director plus there is a third person who is also as officer/director.
Can we add the daughter and son as signers on CD? Do we have to add the third person as well, or does a court document and/or trust need to be presented showing son/daughter/3rd person as either owners/trustees before adding the names?
