Why it’s not their money
09/10/2017
Barney and Linda are the sole owners of BarLin, Inc. Since it is their company, why can’t they put the checks payable to the company in their personal account and save a step?
Mary Beth Guard is one of the four co-founders of BankersOnline and is now Editor Emeritus, after more than 16 years of serving as Executive Editor. She was instrumental in the creation and expansion of BankersOnline, as well as the launch more than a decade ago of BOL Conferences, Inc. and its continued operation and growth. Mary Beth is also the director of BankCompliance.com, the subscription-based compliance service now being offered online. Also, Mary Beth serves as CEO of Glia Group, Inc., which produces BOL Learning Connect. For nearly four decades, Mary Beth has utilized her background as an attorney to focus on banking industry issues, first as general counsel for the Oklahoma State Banking Department, then as general counsel for the Oklahoma Bankers Association, prior to her work with BankersOnline.
Mary Beth has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. She is a frequent presenter of webinars and seminars. In addition, Mary Beth has written more than a thousand banking-related articles and is BOL Guru #1.
You can contact Mary Beth via email at mbguard@bankersonline.com or by telephone at (405) 272-1642.
09/10/2017
Barney and Linda are the sole owners of BarLin, Inc. Since it is their company, why can’t they put the checks payable to the company in their personal account and save a step?
09/03/2017
Dan’s account names his son Rudy as the pay on death beneficiary. Dan is currently very ill, in the hospital. Can we tell Rudy he is on there as POD?
08/27/2017
A father and son wanted to open an account today where two signatures would be required on each check. It’s extra work for them, but does it really matter to us?
08/13/2017
How should withdrawals from UTMAs be handled? Payable to the minor, payable to the custodian, payable to the UTMA, or does it matter?
08/06/2017
Can Mom and Dad be co-custodians for their baby’s UTMA?
07/30/2017
Minors in our state can open deposit accounts. Can our bank refuse to open a checking account for a minor unless it is jointly owned with an adult family member?
07/23/2017
Our state law permits minors to open bank accounts. Do we have to allow a twelve-year-old to open a checking account?
07/16/2017
Can an individual rescind a UTMA account that he or she set up for a minor?
07/09/2017
If the OFAC list now contains a name that matches our customer’s name, should we immediately close the account?
07/09/2017
Can an individual rescind a UTMA account that he or she set up for a minor?