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#1605446 - 09/19/11 04:51 PM Sale of Corporation
NewTooBSA Offline
Platinum Poster
Joined: Nov 2005
Posts: 568
Texas
A customer is selling his corporation and according to the SOS website there are no documents "required" to be filed. However as a banker, we need to meet CIP requirements and want to know what we should get from the customer. They provided a typed document signed by the seller and the buyer that was not notarized or filed. Per the customer, their attorney says it does not have to be.

We checked the SOS website and the officers have not been updated to reflect the new ownership.

Can someone tell me what you require to document this for your accounts?

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#1610405 - 09/29/11 01:47 PM Re: Sale of Corporation NewTooBSA
The OG Zaibatsu Offline
Diamond Poster
The OG Zaibatsu
Joined: Dec 2007
Posts: 1,695
Texas
What does your CIP require? Make sure you have that information. I have no idea what the typed document you are talking about is. There's no way to know if a document must be notarized unless you know what the document is. Regardless, it is unlikely that the document they provided must be notarized.
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#1611166 - 09/30/11 04:21 PM Re: Sale of Corporation The OG Zaibatsu
CC Gem Offline
New Poster
Joined: Aug 2009
Posts: 11
Texas
We require that they file their new articles, listing the new officers with the SOS.
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