We have a potential new customer who wants to open a COLTAF account. He hasn't filed with the SOS but he can provide his registration with the bar. We're going to use the COLTAF TIN on the account. My ? is about the banking resolution that details the signers and powers granted. Do we use a sole prop resolution (since it's just him), do we use a nonprofit resolution (because that's what COLTAF is), or do we not need a resolution at all? My branch manager is insisting that it should be a corporation but a corporation isn't part of the scenario at all so that doesn't seem right to me. Thoughts?

Law firms are usually established as corporations or LLPs and in either case you'll need resolution of authority. In CO law firms are required to file a COLTAF enrollment form with the Lawyers Trust Foundation and the bank should ask for a copy of that for its records as well.

Sadly, that does not answer my question. I know that they are required to file the COLTAF enrollment form; we've got that. My question is about the banking resolution that they have to sign. The customer in question is not part of a law firm; they are a freelance lawyer so they haven't been established as a corp or LLP. At other financial institutions, do you require the customer to sign a bank resolution on COLTAF accounts? If you do, what kind (non-profit, sole prop, etc)? In this instance, with a freelance lawyer, would it be a sole proprietorship resolution?

The COLTAF account must be established in the name of the lawyer or law firm opening the account.

If the account is in the name of the lawyer, then I am not sure why you would require a resolution of any sort. It would be like any other account held by an individual.