Who can sign checks (was BoD..)
William H. Herron III
wherron at sprintmail.com
Sat Jul 19 12:38:55 PDT 1997
> Question: What banks still offer this type of account? (two
> signatures required)
I know that Boatman's doesn't anymore. Namron changed banks as a
Namron uses First Fidelity in Oklahoma City, as does the Black Star.
They put the "two signatures required" entry on the signature card, but
were quick to verbally tell us that they didn't check for two
If your group has "two signatures required" and a second signature line
prominently displayed on each check, and you've gotten the entry on the
signature card, then you are safe with respect to current U.S. case
law. (The Uniform Commercial Code is silent on two signature checks.)
It doesn't matter what the bank verbally tells you. If they notify you
in writing that they no longer enforce the two signature requirement,
then you are less "safe" even though your checks still have it.
If you have an SCA account that has a single signature line, then you
really should consider getting new checks. Yes, it's an additional
expense. But it's good evidence in court in case there's a problem.
Hope this helps.
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