Presenter: Deborah L. Crawford, gettechnical inc
Date: Tuesday, October 30, 2012
Time: 2:00 - 3:30 pm Central

Focus:
Today there are several types of business accounts with many different ways to perform financial transactions.  With so many business entities, it can be challenging to determine who is authorized to open, close, and transact business.  In addition to opening business accounts in person, businesses bank online with debit cards and remote deposit.  How are these accounts set up and then changed as the business changes?  What happens when a partner or sole proprietor dies?  Can you keep the same EIN if a sole proprietorship incorporates?  What if the LLC members are other businesses?  How do they sign?  The list of questions goes on. 

Understanding designations, rules, and authority on all types of business accounts can ensure your credit union is taking the proper precautions and can assist in avoiding costly errors.  This is a must-attend session for all who open business accounts and for those who train or supervise in these areas!

What You Will Learn

• Changing signers on business accounts
• What happens when a business account owner dies?
• Can a business account have a pay-on-death designation?
• Can a partner remove another partner?
• How can you give debit cards on business accounts?  Where is the liability?
• How do customer identification programs (CIP) work on business accounts?
• Can we have a power-of-attorney on a business account?
• With a complicated limited liability company, how do you know who is authorized to remove a signer when they are all managing members?
• What are the CIP requirements for multi-tiered business accounts with businesses owning businesses?
• What is disregarding an entity for tax purposes and how does that affect account styling?
• Resolutions, signature cards, and endorsements
• And much, much more . . .

Who Should Sign Up?
This informative session is directed to member service representatives, branch managers, lenders, training and branch administration, and tellers in the commercial area of the credit union.

About the Presenter:
Deborah Crawford is the President of gettechnical inc., a Baton Rouge-based firm, specializing in the education of financial institutions across the nation.  Her 27+ years of experience began at Hibernia National Bank in New Orleans.  She graduated from Louisiana State University with both her bachelor’s and master’s degrees. 

Debbie specializes in the education of financial institution employees and officers in the area of deposit account laws, new account documentation, insurance, complex compliance regulations, and IRAs.