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#788368 - 08/02/07 08:12 PM Endorsements
CC82 Offline
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Joined: Aug 2007
Posts: 5
Salt Lake City, UT
If I have a business account in the name of say "Intermountain Headache Clinic" that has a bunch of different doctors that work for the clinic and some of the checks deposited into this account are made payable to the individual doctors rather than to the clinic - shouldn't the doctors be endorsing the checks indivdually? Right now the branch is allowing them to just put an endorsement stamp on the checks and not obtaining signatures. Any thoughts?
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Corrine

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#788548 - 08/02/07 10:38 PM Re: Endorsements CC82
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,393
Galveston, TX
If the doctors ever claim that they never received benefit from the checks made payable to them, the bank is going to be on the hook.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#789045 - 08/03/07 04:51 PM Re: Endorsements rlcarey
CC82 Offline
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Joined: Aug 2007
Posts: 5
Salt Lake City, UT
My thoughts exactly - thanks for confirming them for me!
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Corrine

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