I have been searching for guidance on this issue and have not been successful so I turn to my colleagues on BOL. How do others handle RDC for property management companies? Scenario: PM Company has accounts with bank. Clients of PM company open accounts with bank and allow PM company to be authorized signers on accounts. PM company signs RDC agreement with bank, but the client does not because they don't conduct the transactions. Do you require an agreement? Or could we possibly have the client sign an acknowledgement that the PM company is conducting business through RDC for their account, or do you get a copy of the agreement between the PM Company and their client? We have a PM Company that has approximately 70 or so accounts.
Thanks,
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Janet Munns, CRCM
Florida