Legal Question in Banking Law in California

my bank closed my buisness account

This is a LLC account with bank of america that was frozed due to the bank not wanting this account any loger. They were to close the account on 6-5 and give us the money that is in the account, today they decided to keep our money and close the account on 7-2 . they have been holding our money since 5-5 and will not release any money until they decide. There has to be some law as to how long they can keep the money and release it to us. We need that money to run our operation and its been a month with out any funds, which puts our company at risk to BK


Asked on 6/05/09, 3:28 pm

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: my bank closed my buisness account

The bank didn't want your account any longer? I don't believe you. There is more to the story than this. Your lawyer should write the bank and demand an immediate release of your funds.

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Answered on 6/05/09, 3:46 pm


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