Legal Question in Business Law in North Carolina

Is it legal for my business partner to open up a personal checking account and deposit business checks into without my consent?

Asked on 10/19/14, 7:59 pm

1 Answer from Attorneys

Jeremy Canipe The Canipe Law Firm, PLLC

While I don't know your business specifically, nor any other facts, in general, if a check is made payable to the business, then the funds are the property of the business and an individual owner does not have any ownership rights in the check - only in the profits of the business and any other payment rights out of the business, such as salary, commission, etc. Thus, there may well be improper redirection of company assets. There is also the question of how the bank came to allow this to take place. I suggest contacting a business litigation attorney immediately.

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Answered on 10/20/14, 7:07 am

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