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#363081 - 05/24/05 03:38 PM Changing signers, easier way?
Anonymous
Unregistered

We have a commercial customer (I believe it is a non-profit corporation) that has asked the bank if there is an easier way to change signers on their DDA account rather than completing a resolution each time someone leaves the organization. In the past, when there is a change of signers (in this case the CFO is leaving) we request a new resolution and then have all authorized signers re-sign the signature card.
Is there an easier way to accomplish this? It is really a hassle when there are numerous signers........

All responses appreciated.

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#363082 - 05/24/05 04:54 PM Re: Changing signers, easier way?
AMXSteve Offline
Member
Joined: Jun 2001
Posts: 75
Wilmington, OH, USA
This is exactly how we handle it. I've yet to find a better way to document transaction authority on an account and retain specimen signatures. It comes in especially handy when you have to figure out who had authority when, such as when a transaction is questioned -- did John Doe have authority on 5/24/05, or was he removed from the account on 5/20/05?
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AMXSteve

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#363083 - 05/24/05 06:26 PM Re: Changing signers, easier way?
Anonymous
Unregistered

Thanks for the response. I was just hoping there was an easier, faster, slip-shod way of doing this. Unfortunately, retiremnt is too far out there, therefore I better do the correct procedure now!(ha, ha).

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