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To: TermLimits4All
I am an attorney licensed in Maryland and Virginia. I do not think GA would be much, if any, different.

Your post is very confusing, but it sounds to me like the bank reviewed the operating agreement, saw that your wife owns the majority interest, and is questioning why as a minority owner you would be the signer on the account. Would I be correct in assuming that your wife has the majority interest because you're doing some government business where there is a preference for women owned businesses?

7 posted on 06/29/2020 6:26:04 PM PDT by KevinB (Quite literally, whatever the Left touches it ruins.)
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To: KevinB

“and is questioning why as a minority owner you would be the signer on the account.”

Not why he is a signer. Why the majority owner is not 9n the account.

The wife could then give him rights to the account.


8 posted on 06/29/2020 6:30:52 PM PDT by TexasGator (Z1z)
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To: KevinB

My wife is 51% majority. I use the LLC for my income from a different company who pays me by 1099.
I took advantage of the PPP loan program due to the 9/10s loss of income due to the shut down in my state. Well that and I figured if the funds were available and we and our children and grandchildren will be paying for it anyhow go for it. In order to get the proceeds for the loan I needed to have a business account set up so I opened one at the bank we do business with both personally and for my wife’s business separate from mine. It was only after the bank did an audit that I remembered she had controlling interest. Just looking to get that changed since the “my name” llc is only for tax purposes and has never since 2013 had any involvement with my wife except for the majority stake.
Hope that makes sense.


11 posted on 06/29/2020 6:42:52 PM PDT by TermLimits4All (A next on the agenda, reelection of DJT.)
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