Skip to content

Who Can Close Account on a Sole Proprietorship

Answered by: 

Can an agent or authorized signer on a sole proprietorship close the account?

According to the model version of the UCC, any signatory on an account can close that account. If your bank issues the check to close the account, it should be payable as the account is titled, not to the signatory.
If your bank uses a vendor produced "resolution" signed by the owner of the account, it may specifically limit the powers it allows to authorized signers.

First published on 1/16/12

First published on 01/16/2012

Filed under: 
Filed under compliance 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