Legal Question in Banking Law in Illinois
Banking Law
3 people are in our partnership business. Ther is a 3rd person who joined recently to our partnership company. Are we have to open a new account insted of the previous account?Previous account was handled by 3 partners.
Asked on 9/04/08, 9:13 am
1 Answer from Attorneys
Zedrick Braden III
Ainsworth & Associates PC
Re: Banking Law
Good morning. There is a presumption, unless otherwise noted in your partnership agreement, that all partners are equal. That being said, you probably would want all parnters listed on the account. Certainly your business arrangement should be in writing in the event of a dispute. Will be happy to discuss this further.
Answered on 9/04/08, 9:22 am
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