Sole Proprietor & authorized signers

Posted By: Kari

Sole Proprietor & authorized signers - 11/16/10 10:04 PM

We have a debate going on and I can't locate the answer in our PA Banking Law. Can Sole Proprietors have authorized signers and/or power of attorney's in PA? Also, if not, where is it referenced. Advantages/disadvantages? TY in advance for your help! smile
Posted By: dottiec

Re: Sole Proprietor & authorized signers - 11/17/10 04:47 PM

I don't have a citation of law for you, but being a fellow PA bank-

We allow authorized signers on sole propritorship accounts. Just be sure you clearly mark all documentation showing these people as authorized signers.

We lost a court case several years ago because our documentation was not clear about wheether the additional signer was an owner or not.
Posted By: Snow Bunny

Re: Sole Proprietor & authorized signers - 01/06/11 02:09 PM

We allow authorized signers also and have the Sole Prop sign documentation authorizing them.