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#2222247 - 09/24/19 07:51 PM Question on Corporation as Manager on an LLC
Jo Offline
Joined: May 2009
Posts: 75
I understand that LLC's will sometimes will have a Corporation as it's manager. My question is, if we open an account for an LLC who has a Corporation as a Manager:

1). Should the Corporation be assigned the relationship of Manager on our system?
2). Does this make the Corporation a signatory for the LLC.

Any help is greatly appreciated

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#2222291 - 09/25/19 03:40 PM Re: Question on Corporation as Manager on an LLC Jo
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Corporations can't sign things. They appoint agents (real people) to do that. While the corporation may be manager for the LLC under its legal filings, there will be individuals who get authorized to sign on their deposit accounts. Those individuals may be officers of the corporation (or not).
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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