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Check Deposit-Authorized Signer on Corp Into Corp

What are the rules governing accepting checks made out to an authorized signer on a corporation into the corporation. For example I am the vice president on ABC INC. Can I deposit checks payable to me into that corporation?

by David Dickinson

Anyone can make a deposit. Only those authorized by the corporate resolution can make other transactions, like withdraws and transfers.


by Randy Carey:

As David indicated, the answer is yes. However, depending on the frequency and the dollar amount involved, if the bank becomes aware of it, a full explanation should be sought out from the corporation (and not from person doing the activity). Such transactions are unusual and could be a symptom of other issues going on. An attempt at covering up the embezzlement of funds or other illegal activity may be the underlying cause for such actions.

First published on 11/05/2017

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