Re: Need Suggestions for complying with bank guidelines to opening cohousing bank accounts etc
From: Kristen Simmons (simmonskristengmail.com)
Date: Mon, 12 Apr 2010 05:03:21 -0700 (PDT)
Our forming group, Stony Brook Cohousing in Boston, has two designated
officers: Treasurer and Member Coordinator. Both are signers on the bank
account. In general, the Treasurer is responsible for tracking all funds,
and the Member Coordinator maintains all records of membership and minutes
and such. Our state also requires that here be a physical address associated
with an LLC. The Membership Coordinator's home serves that purpose.

We have these officers not just to satisfy the bank, but because of the
critical need for accurate records as we go forward.

Cheers,
Kristen

PS: We are structured as an LLC, but had these same positions before that
status.



On Sun, Apr 11, 2010 at 4:38 PM, Leslye Janusz <leslyej [at] gmail.com> wrote:

>
> Our group, Auburn Ecohousing, in Auburn, CA is looking for help in how our
> group can comply with guidelines for opening a bank account, or a member
> operated LLC.
>
> We've had "officers" in the past, elected, or selected by the entire group,
> but that feels so antithetical to the concept of cohousing and consensus.
> However, banks want to know who the officers are for purposes of opening an
> account and who can sign on an account. In setting up a member operated
> LLC,
> is it necessary to have "officers?"
>
> What are other groups doing to show some official sort of structure or
> leadership team that would satisfy banking intitutions?
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