Banking/Legal

Can I open a bank account with a DBA? Can you open a bank account for a DBA/sole proprietorship? Yes, you can open a business bank account as a sole proprietor using a DBA. A sole proprietorship is a business owned by one person where there is no legal separation between the owner and the … Read more

Does a single-member LLC need a bank resolution? With a SMLLC, you’d only use a resolution to document the most important business matters or actions such as: buying or selling real estate. getting a loan, establishing a bank account, or otherwise working with a financial institution. Read more on www.nolo.com You might be asking if … Read more

Can I open a bank account with a Series LLC? Open the initial account under the Series LLC first, which does have a set of filed Articles. After that’s opened, then you can usually open the accounts for the Cells using a combination of the Series LLC’s incorporation number and the individual Cell’s Federal Tax … Read more

What happens to bank account when company dissolves? When a company is dissolved, it will cease to exist as a legal entity. When a bank becomes aware that a company has been dissolved (which generally happens quickly), it immediately freezes all accounts in the name of the company, pending a transfer of the contents to … Read more

Can a private company own a bank? Private banks are the banks owned by either the individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, the creditors can look to both the “”entirety of the bank’s assets”” as well as the entirety of the sole-proprietor’s/general-partners’ assets. Read … Read more