Legal Question in Banking Law in Massachusetts

I have recently dissolved my Corp. and have now received a rebate check from the Insurance company. The check is made out to the Corp. and the bank says my business account is closed. What can I do?


Asked on 8/19/09, 9:06 pm

1 Answer from Attorneys
Nicole Reeves Lavallee Reeves Lavallee, P.C.

Assuming the business was incorporated in MA then then you have 3 years from the date of dissolution before the business is officially closed. You should not have closed the bank account until such time to ensure all creditors and debtors have been paid in full. I would try to reopen the account as the bank cannot legally have an individual cash the check.

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Answered on 8/25/09, 8:25 am


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