Business Accounts definition

Business Accounts. CFCU offers business accounts to its members. We require the governing body of the legal entity opening the account to give us a Business Resolution designating CFCU as Depository and provide us with the list of Officers authorized to sign for the company as a separate authorization telling us who is authorized to act on its behalf. We will honor the authorization until we actually receive written notice of a change from the governing body of the legal entity. To establish a business account you will be required to provide us with the legal documentation such as Articles of Incorporation, Business Certificate, previous tax returns, etc. If your business is not incorporated in the state of Michigan, you will be required to file and register your business with the Michigan Department of Labor and Economic Growth in order to conduct business in this state. Failure to provide us with current unexpired business documents may interrupt your account services. Regulation GG/Internet Gambling Notification: Pursuant to the Unlawful Internet Gambling Enforcement Act of 2006 and Regulation GG, “restricted transactions” such as those in which a person accepts credit, funds, instruments or other proceeds from another person in connection with unlawful Internet gambling are prohibited from being processed through your account or relationship with Christian Financial Credit Union. Association/Organizational or Sole Proprietorship Accounts: If Your Account is an association, organizational, sole proprietorship or DBA account, you will be required to supply CFCU with a separate Resolution designating CFCU as Depository and providing us with a list of Officers authorized to sign for the Association, Organization, Fraternal Organization or other entity document informing us of the authorized signers for the Account and provide any other related documents if requested. We require that the individual opening the Account be a CFCU member with a personal account and that all owners or organizational members be individually eligible for membership. Accounts with Expiration Dates: DBA’s, Estate, Conservatorship, or other similar type of account that specifies an expiration date may be opened with proper identification and documentation. When requested, you agree to provide any documentation that is required for the type of account you maintain at CFCU that has expired. Failure to respond to such requests may result in an interruption of your account services.
Business Accounts means any and all accounts or registries that Seller owns, maintains or controls with third party vendors, software providers, service providers and other similar third parties that is related to the businesses of Seller.
Business Accounts means the unaudited pro forma profit and loss account and balance sheet of the Business as at and for the year ended on the Balance Sheet Date;

Examples of Business Accounts in a sentence

  • For Business Accounts, you understand that any transaction by a business owner, employee, agent, account signer, or anyone you authorize to transact business on your Account or any transaction by an authorized person that exceeds the specific transaction authority you have provided, is considered an authorized transaction for which you remain fully responsible.

  • Our Business Account(s) is available to business registered and licenses in the fifty United States and the District of Columbia.


More Definitions of Business Accounts

Business Accounts means e-money accounts that are designed for businesses, organizations, and government entities.
Business Accounts. For more information concerning errors and questions about transactions on Business accounts, you should refer to the CentralNET Terms and Conditions.
Business Accounts. The PFM Service Fee for customers who use the PFM Service for their Business Accounts is $9.95 each month. You authorize us to deduct this PFM Service Fee each month from the eligible Business checking account or asset management account you designate as your Primary Account. If there are insufficient funds in your Primary Account, you authorize us to charge any other account of yours with us in order to pay such fees and charges. The PFM Service Fee is in addition to any regular transaction fees that may be in effect for your Business Account(s).
Business Accounts any Account in which the account debtor is the United States of America or any department, agency, or instrumentality thereof, unless Borrower, assigns its right to payment of such Account to Lender, in form and substance satisfactory to Lender, and so as to comply with all Requirements of Law; (xvii) any Account owed by an account debtor who or which has account balances with Borrower or XVT equalling or exceeding fifty percent (50%) of such account debtor's total accounts receivable due to Borrower or XVT, as applicable, which are unpaid after 90 days or more from invoice date; (xviii) any Account of which Borrower or XVT has made any agreement with the account debtor for any deduction therefrom, to the extent of the deduction, except for discounts or allowances which are made in the ordinary course of business for prompt payment and which discounts or allowances are reflected in the calculation of the face value of each invoice related to such Account; and (xix) any Account which Borrower or XVT has made an agreement with the account debtor to extend the time of payment of such specific Account ((i) through (xix) are reflected in the Borrowing Base and Compliance Certificate as "NON-BUSINESS ACCOUNTS").
Business Accounts has the meaning set forth in Section 2.1(l).
Business Accounts mean accounts owned and used by sole proprietorships, partnerships, limited liability companies, corporations, and other forms of business organizations that are not “consumer” accounts and are not maintained primarily for personal, family, or household purposes. For Business Accounts using the service, the Bank is not responsible for any loss, injury or damage, whether direct, indirect, special, consequential, exemplary, economic or otherwise, caused by the service or the use of the service except as otherwise expressly provided for in his Agreement or by applicable law. By using the service to access your Business Accounts, you are responsible for any unauthorized use of the service and any loss or damages incurred due to the unauthorized access to your Business Accounts. If any person authorized access through this service to conduct transactions on any Business Account is no longer authorized, it is your responsibility to notify the Bank. The Bank shall not be liable or responsible to you for any transactions conducted on a Business Account by any person whose authority to conduct transactions is no longer in effect until the Bank is expressly notified.
Business Accounts mean sole proprietorships, partnerships, limited liability companies, corporations, and other forms of business organization that are not "consumer" accounts and are not maintained primarily for personal, family, or household purposes. For Business Accounts using the Mobile Remote Deposit Capture Service, Prosperity is not responsible for any loss, injury or damage, whether direct, indirect, special, consequential, exemplary, economic or otherwise, caused by the Mobile Remote Deposit Capture service or the use of the Mobile Remote Deposit Capture service except as otherwise expressly provided for in this Agreement or by applicable law. By using the Mobile Remote Deposit Capture service to access your Business Accounts, you are responsible for any unauthorized use of the Mobile Remote Deposit Capture service and any loss or damages incurred due to the unauthorized access to your Business Accounts. If your deposit activity through the Mobile Remote Deposit Capture service exceeds your Deposit Limits, we reserve the right to disable your access to the. Mobile Remote Deposit Capture service and provide you with information on other business banking electronic deposit options that may be available to you. If any person authorized access through the Mobile Remote Deposit Capture service to conduct transactions on any Business Account is no longer authorized, it is your responsibility to notify us. Prosperity shall not be liable or responsible to you for any transactions conducted on a Business Account by any person whose authority to conduct transactions is no longer in effect until Prosperity is expressly notified.