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#2284318 - 05/09/23 07:15 PM Entity Titles on a New Business Account
Suzanne L Offline
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Suzanne L
Joined: Apr 2011
Posts: 13
Rocky Mountain High
When your institution opens a business account does it require the correct titles for the entity on the resolution. If it is a corporation for example, do you require the titles on the resolution are president, vice president, treasurer and secretary or can they list something else?
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#2284319 - 05/09/23 07:24 PM Re: Entity Titles on a New Business Account Suzanne L
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 84,861
Galveston, TX
Does your State law require a corporation to have officers with those titles. Are those titles otherwise supported within their organizational documents, like the Articles of Incorporation and/or Corporate Bylaws?
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#2284344 - 05/09/23 09:59 PM Re: Entity Titles on a New Business Account rlcarey
Suzanne L Offline
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Suzanne L
Joined: Apr 2011
Posts: 13
Rocky Mountain High
We have branches in Colorado and Wyoming. I was looking in to that and still do not have a definitive answer. I am still reading at the moment.
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If you ask me what I came into this world to do I will tell you: I came to live out loud!

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#2284346 - 05/10/23 12:22 PM Re: Entity Titles on a New Business Account Suzanne L
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 84,861
Galveston, TX
Why is this not something that you would ask your legal counsel in each State? Getting it wrong could jeopardize your ability to collect on a loan or potentially open fraudulent/invalid deposit accounts. Not something to trivialize.
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