Common use of Opening of an account Clause in Contracts

Opening of an account. identification When opening an account, the accountholder's full name, business address, postal address, organisation number and nationality must be stated. A legal person registered in the Norwegian Register of Business Enterprises must present a company certificate which is not older than three months. Entities which are not registered in the Norwegian Register of Business Enterprises must present a statement which is not older than three months from the Norwegian Central Coordinating Register for Legal Entities or from another Norwegian or foreign public register. Entities which are not registered in any public register must present by-laws or similar documentation stating, among others, form of organisation, time of establishment, general manager, business manager, owner or similar contact person. For companies under establishment, a witnessed copy of the memorandum of association must be presented. Accounts for legal entities may be opened by anyone who, according to the above documentation, is authorised to operate such an account, has a power of procuration or is the CEO, or who, by written power of attorney from one of the above mentioned, is entitled to open an account. If the bank does not see any risks about it, other persons may also open an account, if they can make probable their right to open an account on behalf of the legal entity. The person opening an account on behalf of a legal entity must state his/her full name, address, national identity number or D-number and provide proof of his/her identity and confirm the correctness of the information given. If the person does not have a national identity number or D-number, the person must state his/her date and place of birth, nationality and gender. In such a case the bank may obtain a D-number for the person in question. If the accountholder is a physical person, the person must state his/her national identity number or D-number in addition to the information above. If the accountholder does not have a national identity number or D-number, the accountholder must state his/her date and place of birth, nationality and gender. In such a case the bank may obtain a D-number for the person in question. Physical persons must provide proof of identity and/or statement from the Norwegian Central Coordinating Register for Legal Entities. The accountholder must inform the bank of any changes to the information given as soon as possible. It is sufficient that the bank addresses notifications and other notices relating to the account to the accountholder to the accountholder's last known address. If the accountholder subscribes to the bank's netbank services, all notifications and notices relating to the account including bank statements will be uploaded to the netbank's mailbox only. The bank may subject to reasonable grounds refuse to open an account or receive deposits. If the bank offers to establish a jointly owned account, all accountholders must provide details and prove their identity as stated above. Only one of the accountholders will normally receive bank statements. Only one of the accountholders will normally be stated as the owner of the account on statements to tax authorities, but with a comment that the account is owned jointly by several persons.