We have a question concerning a Texas sole proprietor for CIP. We require an Assumed Name Certificate for the three states where we have banking centers. In Texas, we are aware that the certificate is not required when the proprietorship is the exact same name as the proprietor. Should we require another document (diploma, business license, etc) to prove existence of the "business"? Can we require a document in this situation?

It is not true that an assumed name certificate is not needed only when when the business name is the exact same name as the proprietor. It doesn't have to be the exact name. With a sole proprietor, the business is using an assumed name if the business' name doesn't include the proprietor's last name. It is an also assumed name if it contains something that suggests more than one owner, such as "& Sons," "Brothers," "Company," or "& Company" -- even if it includes the business owner's last name.

In Texas, an assumed name certificate must include a stated term or duration for the filing, which cannot exceed 10 years from the date of filing. The certificate expires at the end of the stated term or 10 years from the date of filing. If the registrant decides to continue using the same assumed name, a new assumed name certificate must be filed prior to the expiration of the current certificate.

Don't forget Finance Code §277.002

Sec. 277.002. ACCOUNT INFORMATION REQUIRED. (a) A financial institution shall require, as a condition of opening or maintaining a business checking account, that the applicant or account holder provide:
(1) if the business is a sole proprietorship:
(A) the name of the business owner;
(B) the physical address of the business;
(C) the home address of the business owner; and
(D) the driver's license number of the business owner or the personal identification card number issued to the business owner by the Department of Public Safety; or
(2) if the business is a corporation or other legal entity, a copy of the business's certificate of incorporation or a comparable document and an assumed name certificate, if any.
(b) The financial institution shall request that the account holder inform the institution at least annually of any changes in the information the institution is required to obtain under Subsection (a).

Added by Acts 1999, 76th Leg., ch. 998, Sec. 1, eff. Sept. 1, 1999.