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Leti's say that I am the sole owner of my company and the company has, an operating account with TD Bank.
My bookkeeper is a signer on the account, but he is not the owner and I have not granted him any authority other than to sign checks to pay bills and wages. The TD bank resolution form and the signature card for the DDA have both my signature and that of the bookkeeper because everyone who signs checks has to also have signed the resolution. One week, while I am on vacation, the bookkeeper decides to remove me from the account and has the bank issue a new resolution and signature card, which he, alone, signs. He has highjacked the account and I now no longer have any authority to remove him, close the account or issue checks on the account. How can I prevent that from happening?
Tony, Jacksonville, FL
June 11, 2015 06:40:56 PM
In reply to Tony, Jacksonville, FL
Thanks for writing into TD Helps this evening, Tony. We'll be sure to answer your question about your business account.
We'd like to begin by stating that all current and new signers must be present to remove any signer(s) on a business account and sign a new signature card. With that being said, please be aware that any signer on the account may also close the account without the other signer(s) being present. If you should have any additional questions, please stop by your local TD Bank during lobby hours. Click here: http://bit.ly/TDStores to find a TD Bank near you.
Have a great evening and enjoy the rest of your week, Tony! Take care.
Katherine G, Mount Laurel
June 11, 2015 06:41:58 PM