Skip to content

Corporate Signer Dies: What Now?

Answered by: 

Question: 
If there is only one officer/signer on a corporate account and he passes away, how should the account be handled? What documents need to be presented to allow someone to deal with the accounts?
Answer: 

The individual's ownership of the stock of the corporation becomes an asset of his estate, and the personal representative of the estate will have to deal with the needed steps to elect a new board of directors, which can then appoint someone to manage or liquidate the account.

First published on BankersOnline.com 11/29/10

First published on 11/29/2010

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics