Tuesday, May 25, 2010

Recently found out my signature is on a fraternity bank account. Close it or sign it over to current members?

I have been out of school for 3 Years found out my signature is on this account along with another older alumni member. I want to remove myself from this account and avoid any liabilities. I know i am paranoid but have had no oversight on this account for years. Not sure how it could come back on me but want to take precautions. Fraternities can be sued and I am not sure how it could affect me but you never know. I am probaby just paranoid. Any suggestions?
Recently found out my signature is on a fraternity bank account. Close it or sign it over to current members?
First, find out if the account is still open. If it is not open, then do not worry about it.





If it is still open, is there any money in it? f there is money in it, the money belongs to the fraternity and you need to see that they get the money.





You need to contact the fraternity and see if anyone there has their signature on file. If no, then you need to get someone in the fraternity onto the account so they have access to the money BEFORE you remove your name.
Reply:You should be able to go to the bank and have your name removed. Depending on the bank, you may need the signatures of all of the people currently on the account; it all depends on their rules. I am sure that the people that are currently there would want you off as you have rights and access to that account and the monies in it.

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