Who Can Have a NOW Account?

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Question:

Can an account titled: "Jane Doe: Agent for Dolittle Farm" be a NOW account?

Answer:

If Dolittle Farm is a sole proprietorship or can otherwise hold a NOW account directly, Jane Doe can hold a NOW account as agent for Dolittle Farm. Establish the qualifications of the beneficial owner of the funds first, and apply them to the agent.

First published on BankersOnline.com 10/11/10