Re: Handling of bookstore payments

[krandall@world.std.com]

At 08:23 AM 1/20/99 -0600, Paul wrote:
>Karen wrote:
>
>>.....But a check made out to an organization can only be deposited in an
>>organization account.  If a bank _did_ cash a check made out to an
>>organization for a party that was not an authorized signer on the account,
>>the bank could be held liable for those funds.  I ran the transit routing
>>dept of a bank for a number of years, and we trained counter personnel to
>>be very careful of these situations.
>>
>>Karen
>
>
>Do banks charge a lot to run an organization account?  If not, perhaps such
>an account can be set up for Dave at a bank near his home, and he can be
>designated as an authorized signer.

That's a possibility.  I suppose there's no reason why small special
purpose accounts like this couldn't be set up for those handling AGA sales.
 Our exposure wouldn't be much greater than what we have now.  What do you
thing, Bob?  It might make things easier for you.  

Actually, if people had small local accounts of this sort that they and you
signed on, and you had the statements sent to you, you'd probably have more
control over the situation than you have now.  In fact, they wouldn't even
have to be signers, necessarily.  They could take the checks down and
deposit them, and you could write the checks out to transfer money on your
end.

Karen