Answer:
They must be registered to do business in the State of Texas. Having a banking relationship is not defined as doing business.
Must an entity be registered in the bank's state?
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Question:
My bank is in Texas. When an entity like an LLC is registered in a state other than where the bank is and wants to open deposit accounts and loans, should it be registered in our state or otherwise be "officially" registered here in some way? Does it make a difference if the owner lives in the bank's state?
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