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#1266469 - 10/14/09 06:26 PM Removing a Authorized Signer
Playin 88-Keys Offline
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Playin 88-Keys
Joined: Aug 2009
Posts: 20
Riding along the Coast
Should we require the signature of the party being removed from a Business account on our Account maint. form indicating that change?

Several Internal staff have different views either way. Majority feel that the customer being removed should sign bank documentation.

I have always been under the impression that if you have a Partnership and one of the partners are being removed, then yes their signature or written authorization should be obtained, but not for all commercial accounts.

Any insight will be greatly appreciated.

Thank you,
"Enjoy the simple pleasures of life"

Any feedback is soley based on my experience and do not reflect that of my employer.

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#1266503 - 10/14/09 06:48 PM Re: Removing a Authorized Signer Playin 88-Keys
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Your customer is the corporation, partnership, or LLC that owns the account. That customer may add or remove signatories as it sees fit by its own resolution.

It's much like the process your bank's board of directors uses to authorize signatories on official checks...if someone leaves your bank's employ no one is going to ask them to agree to the termination of their ability to sign official checks.
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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