Legal Question in Business Law in Utah

Business Bank Account

I own 25% of a business. My brother owns another 25% and our mother owns the other 50%. My mother has been spending the company money very irresponsibly and has been somewhat ''out of her mind'' lately, using drugs, etc. She is the only authorized name on the company bank account. Can I, being a controlling officer, take the corporate books into the bank and place myself on the account so that I can sign checks to pay the bills? This is getting outrageous! Please help!


Asked on 3/09/09, 2:58 pm

2 Answers from Attorneys
Randy Lish Randy M. Lish, Attorney at Law

Re: Business Bank Account

What does your operating agreement say about to resolve problems like this? I would have to see the agreement in order to answer your question appropriately. Please call me if you have questions.

Randy M. Lish

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Answered on 3/09/09, 3:15 pm
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Business Bank Account

You can probably have your mother removed as an officer of the company, although her interest will remain there. This is a civil action.

You and your brother may be able to create new checking accounts.

You may call for a free consultation.

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Answered on 3/09/09, 4:10 pm


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