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#589830 - 07/27/06 10:11 PM Business Account Documentation Requirements NY
jmfny Offline
New Poster
Joined: Jul 2006
Posts: 2
New York
Do most banks in NY require a Certificate of Authority to do business in NY when the customer is incorporated in another state? What is the purpose of the document and what implications does it have for the customer ?

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#589831 - 11/13/06 06:07 PM Re: Business Account Documentation Requirements NY
maggie mae Offline
Joined: Dec 2005
Posts: 75
Suffolk County, New York
It is my understanding that businesses incorporated in another state must register to do business in NY. We use the NYS corporate listing website to confirm.

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#589832 - 11/13/06 07:12 PM Re: Business Account Documentation Requirements NY
ACBbank Online
Power Poster
Joined: Jul 2006
Posts: 4,388
New York City
I believe maggie is correct. The business, if incorporated in another state, must register in NY. The purpose, for Banks, is it allows you to begin to meet your due diligence requirements in regards to CIP.
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

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