Answer:
Technically, he or she should endorse the checks as they are drawn. If he or she wishes to deposit them into the LLC account, they should be endorsed a second time in the LLC's name.
First published on BankersOnline.com 1/14/08
Improper LLC Endorsement?
Answered by:
Question:
We have a client who has an LLC with us. The title of the LLC is the first three initials of his or her name- Investments, LLC. (example: MMH Investments, LLC). We have all the proper paper work on the corporation. He or she deposits checks made payable to their name into the LLC and endorses the checks with the business stamp. He or she does not endorse the check, but we know the first three initials of the check is his or her name. Is this endorsement a wrong endorsement?
print
share