We are finding some officers and managers are improperly executing documents.
The bank is a big area of improper handling. When the Treasurer, Bookkeeper, Trustee etc. is opening an account for a Corporation, LLC or Trust, respectively, we are finding that individuals opening such accounts are signing their name rather than signing the officer's or manager's, Treasurer's, Bookkeeper's, or Trustee's name. (i.e. name is signed "John Doe", rather than "John Doe, Treasurer" or "John Doe, Bookkeeper", or John Doe, Trustee Whatever...). When an individual’s signature is used instead of the Company's, Limited Liability Company's or Trust's signature, )(signed by "John Doe, Capacity"), then the document signed, may be considered a personal document rather than a document of the entity. The person signing may now be personally liable for any of the actions signed with just his name, that really belong to the Corporation, Limited Liability Company or Trust.
We have heard it is best to use script for the entire signature) i.e. "John Doe, Steward" rather than "John Doe, Steward", etc.....).
This could be a big one that could be very expensive to fix.
The bank is a big area of improper handling. When the Treasurer, Bookkeeper, Trustee etc. is opening an account for a Corporation, LLC or Trust, respectively, we are finding that individuals opening such accounts are signing their name rather than signing the officer's or manager's, Treasurer's, Bookkeeper's, or Trustee's name. (i.e. name is signed "John Doe", rather than "John Doe, Treasurer" or "John Doe, Bookkeeper", or John Doe, Trustee Whatever...). When an individual’s signature is used instead of the Company's, Limited Liability Company's or Trust's signature, )(signed by "John Doe, Capacity"), then the document signed, may be considered a personal document rather than a document of the entity. The person signing may now be personally liable for any of the actions signed with just his name, that really belong to the Corporation, Limited Liability Company or Trust.
We have heard it is best to use script for the entire signature) i.e. "John Doe, Steward" rather than "John Doe, Steward", etc.....).
This could be a big one that could be very expensive to fix.
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