Legal Question in Banking Law in Pennsylvania

Read the CD documents. Is it owned jointly by business AND your wife or does it say payable to business OR your wife?

It makes a difference. If its payable to A and B jointly, then you need both A and B (your business and wife) to be present. If its payable to A or B, then the money should be payable to either.

If reading the documents does not give you a clue, then ask the bank. They should be able to tell you whether the interest is payable to either your wife or the business or if both parties are required.

Why is this an issue? If your wife is needed is she going to be available? If not, perhaps she can execute a limited financial power of attorney. For example, your wife is in the military and will be deployed overseas when the interest becomes due, then she can give you a limited power of attorney. If its some other reason, again, you need to look at the documents or talk to the bank.