We wanted to inquire if other Texas banks verify DBA entity names against the SOS website during the annual DOEP process?

On our annual Designation of Exempt Person process, if we are aware of a different EIN or DBA, then we would want to make certain that the changes are recorded on the customer record. As far as the obligation to check the SOS’s office to verify if there are any changes, we wouldn’t have that obligation and proceed with the records that we have on file. However, if we become aware of a change, we would need to ensure Bank records match the DOEP.

Thanks for your assistance!

Since one of the requirements of the annual review is:

Be incorporated or organized under the laws of the United States or a state, or registered as and eligible to do business within the United States or a state.

How can you not revalidate that they remain properly registered to do business as part of the annual review?

Thanks for your response Randy!