Partnership Accounts. 3.1 All partners will be liable (individually and together) for any money due to us.
Partnership Accounts. All funds of the Partnership shall be deposited in a separate bank account or accounts and only the General Partner, and such persons as may be designated by the General Partner, may sign checks and draw upon such account or accounts.
Partnership Accounts. In the event of the Client being a partnership the following additional provisions apply:
Partnership Accounts. All funds of the Partnership shall be deposited in its name in an account or accounts maintained by a bank designated by the General Partner. Checks shall be drawn upon the Partnership account(s) only for purposes of the Partnership. The General Partner shall designate one or more persons to have authority to sign all Partnership checks and bind the Partnership thereto.
Partnership Accounts. 17.1 If the Account is owned by a partnership:
Partnership Accounts. 3.1 Your Account Operating instructions will tell us how you want the Account to operate (for instance who can sign cheques on the Account) and how you want us to communicate with you.
Partnership Accounts. The following additional provisions shall apply to partnership accounts:
Partnership Accounts. If You are a partnership, including a limited partnership or joint venture, You agree that the Account is payable only to or on the order of the partnership, and not to any individual partner, except as payees on orders drawn on the Account. You represent that the partnership has taken all action necessary to open and maintain an Account and that any certificates or resolutions filed with Us in connection with the Account are true, accurate, complete, and will be kept up to date. We may act upon the instructions of the general partner(s), or any other person designated in the resolutions on any action or Transaction involving the Account.
Partnership Accounts. (a) The Partnership shall maintain all necessary and proper books of account for the business and shall comply with any regulations or requirements of law.
Partnership Accounts. A limited partnership exists if the partnership consists of one or more persons who control the business and are personally liable for the partnership's debts (general partners), and one or more persons who contribute capital and share profits but who cannot manage that business and are liable only for the amount of their contribution (limited partners).
