Welcome to the on-line
March-April2007 issue of the
Community Bankers' Advisor
. . . . . . . . . . .
The Advisor is prepared by attorneys at Olson & Burns P.C. to provide information pertaining to
legal developments affecting the field of banking. In order
to accomplish this objective, we welcome any comments our
readers have regarding the content and format of this publication.
Please address your comments to:
Community Bankers' Advisor
c/o Olson & Burns P.C.
PO Box 1180
Minot, ND 58702-1180
olsonpc@minotlaw.com
Also, visit our web site at:
www.minotlaw.com
The attorneys at Olson & Burns represent a wide
range of clients in the financial and commercial areas.
Our attorneys represent more than 30 banks throughout North
Dakota. |
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March/April,
2007
ACCOUNT
OPENING ISSUES
There
are many different ways in which a business entity can be set up.
Because they are structured for certain business and/or tax
purposes, it is important that those opening a deposit account for a
business accurately document the type of entity. As a
general rule, business entities can be divided into four categories:
the sole proprietorship, the partnership, the corporation, and the
various limited liability companies. Each group has unique features.
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