|Suggestions for complying with bank guidelines for opening cohousing bank accounts etc||<– Date –> <– Thread –>|
|From: Thomas Lofft (tloffthotmail.com)|
|Date: Mon, 12 Apr 2010 20:24:37 -0700 (PDT)|
At Liberty Village, MD, we established the Community Association with three Administrative Directors and a Treasurer and Secretary. The three AD's and the treasurer and secretary are elected every November, on overlapping three year terms. The annual budget is approved in December and they carry on for the subsequent year. AD's have responsibility and authority to sign documents, countersign checks with the Treasurer, and carry out any administrative functions required to complete actions approved and directed by the membership. Typically, each operating Team in the CA has its own formally approved 'Charge' of its duties, responsibilities and authority and identifies its own convenor. The Treasurer opens bank accounts and may delegate deposits to an assistant treasurer who may be learning the bookkeeping system to be prepared to take over just in case. There is no President or Executive authority. Operation is by consensus and direction comes from the membership as a whole. Tom Lofft Liberty Village, MD Date: Sun, 11 Apr 2010 13:38:22 -0700 From: Leslye Janusz <leslyej [at] gmail.com> Subject: [C-L]_ Need Suggestions for complying with bank guidelines to opening cohousing bank accounts etc To: Cohousing-L [at] cohousing.org Message-ID: <w2ud244fefd1004111338x14f1f90eg41e46447eb6e1726 [at] mail.gmail.com> Content-Type: text/plain; charset=ISO-8859-1 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? _________________________________________________________________ Hotmail has tools for the New Busy. Search, chat and e-mail from your inbox. http://www.windowslive.com/campaign/thenewbusy?ocid=PID28326::T:WLMTAGL:ON:WL:en-US:WM_HMP:042010_1
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